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2021-10-07

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2021-10-12

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2021-10-31

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2021-10-20

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2021-10-09

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2021-11-13

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Pfizer Shows Its R&D Is Strong. It’s a Good Sign for the Stock.<blockquote>辉瑞显示其研发实力雄厚。这对该股来说是一个好兆头。</blockquote>

2021-11-03

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2021-10-20

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Netflix fell nearly 2% in premarket trading as it showed the lowest growth rate in 16 quarters<blockquote>Netflix盘前交易下跌近2%，增速创16个季度以来最低</blockquote>

2021-10-05

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This veteran analyst hears echoes of the 1929 crash in today’s stock market<blockquote>这位资深分析师在今天的股市中听到了1929年崩盘的回声</blockquote>

2021-10-10

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(NAPA).</p><p><blockquote>这些公司包括金宝汤公司(CPB)、通用磨坊(GIS)、卡夫亨氏公司(KHC)、康尼格拉品牌(CAG)、荷美尔食品公司(HRL)、味好美公司(MKC)和鸭角投资组合公司(NAPA)。</blockquote></p><p> \"We looked at companies’ exposure to the top Thanksgiving dishes: turkey, stuffing, dinner rolls, gravy, green bean casserole, potatoes, mac &amp; cheese dessert and wine,\" the analysts stated. \"Overall CPB, GIS, KHC, CAG, MKC, HRL and NAPA are the most exposed. KHC and NAPA are our favorite stocks in this group.\"</p><p><blockquote>分析师表示：“我们研究了公司对感恩节顶级菜肴的敞口：火鸡、馅料、晚餐卷、肉汁、绿豆砂锅、土豆、通心粉和奶酪甜点以及葡萄酒。”“总体而言，CPB、GIS、KHC、CAG、MKC、HRL和NAPA的风险敞口最大。KHC和NAPA是我们在该组中最喜欢的股票。”</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/39aa902f366c0bd07e076520c33cdf52\" tg-width=\"705\" tg-height=\"409\" width=\"100%\" height=\"auto\"><span>Key companies exposed to Thanksgiving meal trends. (Source: BofA)Thanksgiving 'center of the plate' items see more pricing power</span></p><p><blockquote><p class=\"t-img-caption\"><span>接触感恩节大餐趋势的主要公司。（来源：美国银行）感恩节“盘子中心”商品拥有更多定价权</span></p></blockquote></p><p> People appear to be gathering around the table again, the analysts stated, as data from social media conversations found mentions of \"vaccines\" on the rise while mentions of \"FaceTime,\" \"social distancing,\" and \"canceled\" declined. (\"Friendsgiving\" and \"day drinking\" also saw increases.)</p><p><blockquote>分析师表示，人们似乎再次聚集在桌子周围，因为社交媒体对话的数据发现，提及“疫苗”的人数有所增加，而提及“FaceTime”、“社交距离”和“取消”的人数有所下降。（“朋友聚会”和“白天饮酒”也有所增加。）</blockquote></p><p> And whether consumers opt for turkey or ham, mashed potatoes or marshmallow-topped sweet potatoes, traditional orplant-based options, they're likely to pay more with inflation hitting food prices.</p><p><blockquote>无论消费者选择火鸡还是火腿、土豆泥还是棉花糖红薯、传统的或植物性的选择，随着通货膨胀打击食品价格，他们可能会支付更多费用。</blockquote></p><p> The&nbsp;American Farm Bureau Thanksgiving cost index&nbsp;projects a 14% year-over-year increase for 2021, led by a 24% increase in turkey prices.</p><p><blockquote>美国农业局感恩节成本指数预计2021年将同比增长14%，其中火鸡价格将上涨24%。</blockquote></p><p> “When you look at more of the center of the plate sort of food items, typically, there has not historically been a lot of pricing power,” Bryan Spillane, a senior food and beverage analyst at BofA Global Research, told Yahoo Finance Live (video above). “But what's unusual this year is that there has been. Food companies, in particular, began raising prices the middle of the year, and there's virtually been no elasticity.”</p><p><blockquote>美国银行全球研究部高级食品和饮料分析师布莱恩·斯皮兰(Bryan Spillane)告诉雅虎财经直播：“当你观察更多的中心食品时，通常情况下，历史上并没有太多的定价权。”（上面的视频）。“但今年不同寻常的是，已经出现了。尤其是食品公司，年中就开始涨价，而且几乎没有弹性。”</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8e60ff60917eb4db45a68c41bd19a337\" tg-width=\"705\" tg-height=\"529\" width=\"100%\" height=\"auto\"><span>Frozen turkeys in Philadelphia, Wednesday, Nov. 17, 2021. (AP Photo/Matt Rourke)</span></p><p><blockquote><p class=\"t-img-caption\"><span>2021年11月17日，星期三，费城的冷冻火鸡。（美联社照片/马特·洛克）</span></p></blockquote></p><p> That said, Spillane added, consumer behavior is expected to change at some point.</p><p><blockquote>斯皮兰补充说，也就是说，消费者行为预计会在某个时候发生变化。</blockquote></p><p> “Something that we're really watching as we move into next year is: At what point does the consumer begin to push back and do we begin to see some trading down or other behavior that demonstrates that consumers are feeling that pinch?” Spillane said.</p><p><blockquote>“进入明年，我们真正关注的是：消费者在什么时候开始抵制，我们是否开始看到一些降价或其他行为表明消费者感受到了压力？”斯皮兰说。</blockquote></p><p> Investor appetite for food and beverage companies</p><p><blockquote>投资者对食品饮料公司的兴趣</blockquote></p><p> The top company with the most upside or downside potential is Campbell's, which BofA gave an \"underperform\" rating.</p><p><blockquote>上涨或下跌潜力最大的公司是金宝汤，美国银行给予该公司“表现不佳”评级。</blockquote></p><p> “Campbell's struggling from a few issues,” Spillane said. “One is they are experiencing a material amount of inflation. They have a product portfolio that's a little bit more skewed… to kind of middle and low-income households. So, that's, maybe, an area where there may be some sensitivity around passing those prices through.”</p><p><blockquote>“坎贝尔正在为一些问题而苦苦挣扎，”斯皮兰说。“一是他们正在经历大幅通货膨胀。他们的产品组合稍微偏向于……中低收入家庭。因此，这可能是一个在传递这些价格方面可能存在一些敏感性的领域。”</blockquote></p><p> The iconic soup company also has a lot of direct and indirect exposure to labor shortages and higher labor costs, Spillane added.</p><p><blockquote>斯皮兰补充说，这家标志性的汤公司还直接和间接面临劳动力短缺和劳动力成本上升的问题。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/be1718627f49a5fcc29f52e9e322313f\" tg-width=\"705\" tg-height=\"470\" width=\"100%\" height=\"auto\"><span>Cans of Campbell's Soup are displayed in a supermarket in New York City, U.S. February 15, 2017. REUTERS/Brendan McDermid</span></p><p><blockquote><p class=\"t-img-caption\"><span>2017年2月15日，美国纽约市一家超市里陈列着罐装金宝汤。路透社/布伦丹·麦克德米德</span></p></blockquote></p><p> BofA also gave seasoning-maker McCormick &amp; Company an \"underperform\" rating, with an $84 price target.</p><p><blockquote>美国银行还给予调味料制造商味好美公司“跑输大盘”评级，目标价为84美元。</blockquote></p><p> McCormick is “still trading at a premium valuation,” Spillane said, adding that while it has benefitted from people having cooked at home more in the last 18 months, “at some point, as things moderate, you're going to see less of that cooking at home behavior. And that's going to create an overhang for McCormick.”</p><p><blockquote>斯皮兰表示，味好美“仍以溢价估值交易”，并补充说，虽然它受益于人们在过去18个月里更多地在家做饭，但“在某个时候，随着情况放缓，你会看到这种情况减少在家做饭的行为。这将给味好美带来悬念。”</blockquote></p><p> On the flip side, “Hershey [HSY] is well-positioned,” Spillane said, especially when it comes to the inflationary environment.</p><p><blockquote>另一方面，“好时[HSY]处于有利地位，”斯皮兰说，尤其是在通胀环境方面。</blockquote></p><p> “The combination of a category that's still growing very strongly where there's still a lot of product innovation and where there's been demonstrated pricing power, we think that Hershey is set up really well to be able to maybe even more than protect margins, maybe potentially grow margins as we cycle through some of this inflation,” he explained.</p><p><blockquote>“这个类别仍在强劲增长，仍然有很多产品创新，并且已经证明了定价能力，我们认为好时的设置非常好，甚至能够保护利润率，也许有可能随着我们经历一些通货膨胀而增长利润率，”他解释道。</blockquote></p><p> BofA also awarded Stove Top stuffing-maker Kraft Heinz a buy rating with a $46 price objective.</p><p><blockquote>美国银行还给予炉灶馅料制造商卡夫亨氏买入评级，目标价为46美元。</blockquote></p><p></p><p> “We believe this is justified based our view that KHC is well positioned to capture growth associated with changing consumer demand patterns related to recessions and pantry stocking offset by higher than average debt levels,” the analysts wrote.</p><p><blockquote>分析师写道：“我们认为这是合理的，因为我们认为KHC处于有利地位，可以捕捉与经济衰退和食品储藏室库存相关的消费者需求模式变化相关的增长，但这些增长被高于平均水平的债务水平所抵消。”</blockquote></p><p></p>","source":"lsy1612507957220","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>7 stocks with the most Thanksgiving exposure, according to Bank of America<blockquote>美国银行称感恩节风险最大的7只股票</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; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n7 stocks with the most Thanksgiving exposure, according to Bank of America<blockquote>美国银行称感恩节风险最大的7只股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">finance.yahoo</strong><span class=\"h-time small\">2021-11-25 22:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Thanksgiving feasts will likely draw larger crowds than last year and&nbsp;incur higher costs.</p><p><blockquote>感恩节盛宴可能会吸引比去年更多的人群，并产生更高的成本。</blockquote></p><p> A recent Bank of America note detailed which companies have the most exposure to the top holiday dishes amid supply chain bottlenecks, inflation, lingering COVID concerns, low inventories, and evolving consumer behaviors.</p><p><blockquote>美国银行最近的一份报告详细介绍了在供应链瓶颈、通货膨胀、挥之不去的新冠疫情担忧、低库存和消费者行为不断变化的情况下，哪些公司对顶级节日菜肴的敞口最大。</blockquote></p><p> Those companies are Campbell's Soup Company (CPB), General Mills (GIS), The Kraft Heinz Company (KHC), Conagra Brands (CAG), Hormel Foods Corporation (HRL), McCormick &amp; Company (MKC), and The Duckhorn Portfolio, Inc. (NAPA).</p><p><blockquote>这些公司包括金宝汤公司(CPB)、通用磨坊(GIS)、卡夫亨氏公司(KHC)、康尼格拉品牌(CAG)、荷美尔食品公司(HRL)、味好美公司(MKC)和鸭角投资组合公司(NAPA)。</blockquote></p><p> \"We looked at companies’ exposure to the top Thanksgiving dishes: turkey, stuffing, dinner rolls, gravy, green bean casserole, potatoes, mac &amp; cheese dessert and wine,\" the analysts stated. \"Overall CPB, GIS, KHC, CAG, MKC, HRL and NAPA are the most exposed. KHC and NAPA are our favorite stocks in this group.\"</p><p><blockquote>分析师表示：“我们研究了公司对感恩节顶级菜肴的敞口：火鸡、馅料、晚餐卷、肉汁、绿豆砂锅、土豆、通心粉和奶酪甜点以及葡萄酒。”“总体而言，CPB、GIS、KHC、CAG、MKC、HRL和NAPA的风险敞口最大。KHC和NAPA是我们在该组中最喜欢的股票。”</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/39aa902f366c0bd07e076520c33cdf52\" tg-width=\"705\" tg-height=\"409\" width=\"100%\" height=\"auto\"><span>Key companies exposed to Thanksgiving meal trends. (Source: BofA)Thanksgiving 'center of the plate' items see more pricing power</span></p><p><blockquote><p class=\"t-img-caption\"><span>接触感恩节大餐趋势的主要公司。（来源：美国银行）感恩节“盘子中心”商品拥有更多定价权</span></p></blockquote></p><p> People appear to be gathering around the table again, the analysts stated, as data from social media conversations found mentions of \"vaccines\" on the rise while mentions of \"FaceTime,\" \"social distancing,\" and \"canceled\" declined. (\"Friendsgiving\" and \"day drinking\" also saw increases.)</p><p><blockquote>分析师表示，人们似乎再次聚集在桌子周围，因为社交媒体对话的数据发现，提及“疫苗”的人数有所增加，而提及“FaceTime”、“社交距离”和“取消”的人数有所下降。（“朋友聚会”和“白天饮酒”也有所增加。）</blockquote></p><p> And whether consumers opt for turkey or ham, mashed potatoes or marshmallow-topped sweet potatoes, traditional orplant-based options, they're likely to pay more with inflation hitting food prices.</p><p><blockquote>无论消费者选择火鸡还是火腿、土豆泥还是棉花糖红薯、传统的或植物性的选择，随着通货膨胀打击食品价格，他们可能会支付更多费用。</blockquote></p><p> The&nbsp;American Farm Bureau Thanksgiving cost index&nbsp;projects a 14% year-over-year increase for 2021, led by a 24% increase in turkey prices.</p><p><blockquote>美国农业局感恩节成本指数预计2021年将同比增长14%，其中火鸡价格将上涨24%。</blockquote></p><p> “When you look at more of the center of the plate sort of food items, typically, there has not historically been a lot of pricing power,” Bryan Spillane, a senior food and beverage analyst at BofA Global Research, told Yahoo Finance Live (video above). “But what's unusual this year is that there has been. Food companies, in particular, began raising prices the middle of the year, and there's virtually been no elasticity.”</p><p><blockquote>美国银行全球研究部高级食品和饮料分析师布莱恩·斯皮兰(Bryan Spillane)告诉雅虎财经直播：“当你观察更多的中心食品时，通常情况下，历史上并没有太多的定价权。”（上面的视频）。“但今年不同寻常的是，已经出现了。尤其是食品公司，年中就开始涨价，而且几乎没有弹性。”</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8e60ff60917eb4db45a68c41bd19a337\" tg-width=\"705\" tg-height=\"529\" width=\"100%\" height=\"auto\"><span>Frozen turkeys in Philadelphia, Wednesday, Nov. 17, 2021. (AP Photo/Matt Rourke)</span></p><p><blockquote><p class=\"t-img-caption\"><span>2021年11月17日，星期三，费城的冷冻火鸡。（美联社照片/马特·洛克）</span></p></blockquote></p><p> That said, Spillane added, consumer behavior is expected to change at some point.</p><p><blockquote>斯皮兰补充说，也就是说，消费者行为预计会在某个时候发生变化。</blockquote></p><p> “Something that we're really watching as we move into next year is: At what point does the consumer begin to push back and do we begin to see some trading down or other behavior that demonstrates that consumers are feeling that pinch?” Spillane said.</p><p><blockquote>“进入明年，我们真正关注的是：消费者在什么时候开始抵制，我们是否开始看到一些降价或其他行为表明消费者感受到了压力？”斯皮兰说。</blockquote></p><p> Investor appetite for food and beverage companies</p><p><blockquote>投资者对食品饮料公司的兴趣</blockquote></p><p> The top company with the most upside or downside potential is Campbell's, which BofA gave an \"underperform\" rating.</p><p><blockquote>上涨或下跌潜力最大的公司是金宝汤，美国银行给予该公司“表现不佳”评级。</blockquote></p><p> “Campbell's struggling from a few issues,” Spillane said. “One is they are experiencing a material amount of inflation. They have a product portfolio that's a little bit more skewed… to kind of middle and low-income households. So, that's, maybe, an area where there may be some sensitivity around passing those prices through.”</p><p><blockquote>“坎贝尔正在为一些问题而苦苦挣扎，”斯皮兰说。“一是他们正在经历大幅通货膨胀。他们的产品组合稍微偏向于……中低收入家庭。因此，这可能是一个在传递这些价格方面可能存在一些敏感性的领域。”</blockquote></p><p> The iconic soup company also has a lot of direct and indirect exposure to labor shortages and higher labor costs, Spillane added.</p><p><blockquote>斯皮兰补充说，这家标志性的汤公司还直接和间接面临劳动力短缺和劳动力成本上升的问题。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/be1718627f49a5fcc29f52e9e322313f\" tg-width=\"705\" tg-height=\"470\" width=\"100%\" height=\"auto\"><span>Cans of Campbell's Soup are displayed in a supermarket in New York City, U.S. February 15, 2017. REUTERS/Brendan McDermid</span></p><p><blockquote><p class=\"t-img-caption\"><span>2017年2月15日，美国纽约市一家超市里陈列着罐装金宝汤。路透社/布伦丹·麦克德米德</span></p></blockquote></p><p> BofA also gave seasoning-maker McCormick &amp; Company an \"underperform\" rating, with an $84 price target.</p><p><blockquote>美国银行还给予调味料制造商味好美公司“跑输大盘”评级，目标价为84美元。</blockquote></p><p> McCormick is “still trading at a premium valuation,” Spillane said, adding that while it has benefitted from people having cooked at home more in the last 18 months, “at some point, as things moderate, you're going to see less of that cooking at home behavior. And that's going to create an overhang for McCormick.”</p><p><blockquote>斯皮兰表示，味好美“仍以溢价估值交易”，并补充说，虽然它受益于人们在过去18个月里更多地在家做饭，但“在某个时候，随着情况放缓，你会看到这种情况减少在家做饭的行为。这将给味好美带来悬念。”</blockquote></p><p> On the flip side, “Hershey [HSY] is well-positioned,” Spillane said, especially when it comes to the inflationary environment.</p><p><blockquote>另一方面，“好时[HSY]处于有利地位，”斯皮兰说，尤其是在通胀环境方面。</blockquote></p><p> “The combination of a category that's still growing very strongly where there's still a lot of product innovation and where there's been demonstrated pricing power, we think that Hershey is set up really well to be able to maybe even more than protect margins, maybe potentially grow margins as we cycle through some of this inflation,” he explained.</p><p><blockquote>“这个类别仍在强劲增长，仍然有很多产品创新，并且已经证明了定价能力，我们认为好时的设置非常好，甚至能够保护利润率，也许有可能随着我们经历一些通货膨胀而增长利润率，”他解释道。</blockquote></p><p> BofA also awarded Stove Top stuffing-maker Kraft Heinz a buy rating with a $46 price objective.</p><p><blockquote>美国银行还给予炉灶馅料制造商卡夫亨氏买入评级，目标价为46美元。</blockquote></p><p></p><p> “We believe this is justified based our view that KHC is well positioned to capture growth associated with changing consumer demand patterns related to recessions and pantry stocking offset by higher than average debt levels,” the analysts wrote.</p><p><blockquote>分析师写道：“我们认为这是合理的，因为我们认为KHC处于有利地位，可以捕捉与经济衰退和食品储藏室库存相关的消费者需求模式变化相关的增长，但这些增长被高于平均水平的债务水平所抵消。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/7-stocks-thanksgiving-exposure-bank-of-america-134505457.html\">finance.yahoo</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":{"HRL":"荷美尔","CPB":"金宝汤","MKC":"味好美","CAG":"康尼格拉","KHC":"卡夫亨氏","NAPA":"The Duckhorn Portfolio, Inc.","GIS":"通用磨坊"},"source_url":"https://finance.yahoo.com/news/7-stocks-thanksgiving-exposure-bank-of-america-134505457.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122037796","content_text":"Thanksgiving feasts will likely draw larger crowds than last year and incur higher costs.\nA recent Bank of America note detailed which companies have the most exposure to the top holiday dishes amid supply chain bottlenecks, inflation, lingering COVID concerns, low inventories, and evolving consumer behaviors.\nThose companies are Campbell's Soup Company (CPB), General Mills (GIS), The Kraft Heinz Company (KHC), Conagra Brands (CAG), Hormel Foods Corporation (HRL), McCormick & Company (MKC), and The Duckhorn Portfolio, Inc. (NAPA).\n\"We looked at companies’ exposure to the top Thanksgiving dishes: turkey, stuffing, dinner rolls, gravy, green bean casserole, potatoes, mac & cheese dessert and wine,\" the analysts stated. \"Overall CPB, GIS, KHC, CAG, MKC, HRL and NAPA are the most exposed. KHC and NAPA are our favorite stocks in this group.\"\nKey companies exposed to Thanksgiving meal trends. (Source: BofA)Thanksgiving 'center of the plate' items see more pricing power\nPeople appear to be gathering around the table again, the analysts stated, as data from social media conversations found mentions of \"vaccines\" on the rise while mentions of \"FaceTime,\" \"social distancing,\" and \"canceled\" declined. (\"Friendsgiving\" and \"day drinking\" also saw increases.)\nAnd whether consumers opt for turkey or ham, mashed potatoes or marshmallow-topped sweet potatoes, traditional orplant-based options, they're likely to pay more with inflation hitting food prices.\nThe American Farm Bureau Thanksgiving cost index projects a 14% year-over-year increase for 2021, led by a 24% increase in turkey prices.\n“When you look at more of the center of the plate sort of food items, typically, there has not historically been a lot of pricing power,” Bryan Spillane, a senior food and beverage analyst at BofA Global Research, told Yahoo Finance Live (video above). “But what's unusual this year is that there has been. Food companies, in particular, began raising prices the middle of the year, and there's virtually been no elasticity.”\nFrozen turkeys in Philadelphia, Wednesday, Nov. 17, 2021. (AP Photo/Matt Rourke)\nThat said, Spillane added, consumer behavior is expected to change at some point.\n“Something that we're really watching as we move into next year is: At what point does the consumer begin to push back and do we begin to see some trading down or other behavior that demonstrates that consumers are feeling that pinch?” Spillane said.\nInvestor appetite for food and beverage companies\nThe top company with the most upside or downside potential is Campbell's, which BofA gave an \"underperform\" rating.\n“Campbell's struggling from a few issues,” Spillane said. “One is they are experiencing a material amount of inflation. They have a product portfolio that's a little bit more skewed… to kind of middle and low-income households. So, that's, maybe, an area where there may be some sensitivity around passing those prices through.”\nThe iconic soup company also has a lot of direct and indirect exposure to labor shortages and higher labor costs, Spillane added.\nCans of Campbell's Soup are displayed in a supermarket in New York City, U.S. February 15, 2017. REUTERS/Brendan McDermid\nBofA also gave seasoning-maker McCormick & Company an \"underperform\" rating, with an $84 price target.\nMcCormick is “still trading at a premium valuation,” Spillane said, adding that while it has benefitted from people having cooked at home more in the last 18 months, “at some point, as things moderate, you're going to see less of that cooking at home behavior. And that's going to create an overhang for McCormick.”\nOn the flip side, “Hershey [HSY] is well-positioned,” Spillane said, especially when it comes to the inflationary environment.\n“The combination of a category that's still growing very strongly where there's still a lot of product innovation and where there's been demonstrated pricing power, we think that Hershey is set up really well to be able to maybe even more than protect margins, maybe potentially grow margins as we cycle through some of this inflation,” he explained.\nBofA also awarded Stove Top stuffing-maker Kraft Heinz a buy rating with a $46 price objective.\n“We believe this is justified based our view that KHC is well positioned to capture growth associated with changing consumer demand patterns related to recessions and pantry stocking offset by higher than average debt levels,” the analysts wrote.","news_type":1,"symbols_score_info":{"GIS":0.9,"CAG":0.9,"HRL":0.9,"CPB":0.9,"NAPA":0.9,"MKC":0.9,"KHC":0.9}},"isVote":1,"tweetType":1,"viewCount":1608,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":873005761,"gmtCreate":1636785977084,"gmtModify":1636786238159,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/873005761","repostId":"1102251183","repostType":4,"repost":{"id":"1102251183","kind":"news","pubTimestamp":1636772424,"share":"https://www.laohu8.com/m/news/1102251183?lang=zh_CN&edition=full","pubTime":"2021-11-13 11:00","market":"us","language":"en","title":"Pfizer Shows Its R&D Is Strong. It’s a Good Sign for the Stock.<blockquote>辉瑞显示其研发实力雄厚。这对该股来说是一个好兆头。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1102251183","media":"Barrons","summary":"Pfizer’s chief scientific officer, Mikael Dolsten, sounded giddy when reached via telephone early Mo","content":"<p>Pfizer’s&nbsp;chief scientific officer, Mikael Dolsten, sounded giddy when reached via telephone early Monday morning. It was just days after his company knocked the socks off the market with the news that its Covid-19 antiviral had cut the risk of hospitalization by 89% in high-risk adults.</p><p><blockquote>周一早上，辉瑞公司首席科学官米凯尔·多尔斯滕(Mikael Dolsten)接到电话时，听起来很头晕。就在几天前，他的公司宣布其Covid-19抗病毒药物将高危成年人的住院风险降低了89%。</blockquote></p><p> “It can’t be just a random thing, that you’re able to beat this type of world record and get a grand slam at the same time by chance,” Dolsten said, scrambling sports metaphors as he sought to illustrate the magnitude of Pfizer’s twin wins: the development of a stunningly effective Covid-19 vaccine in just 10 months, followed a year later by the development of a similarly stunning Covid-19 antiviral.</p><p><blockquote>多尔斯滕说：“你能够打破这种类型的世界纪录，同时偶然获得大满贯，这不可能只是一件随机的事情。”他在试图说明辉瑞的双重胜利：在短短10个月内开发出了一种效果惊人的Covid-19疫苗，一年后又开发出了一种同样令人惊叹的Covid-19抗病毒药物。</blockquote></p><p> Two years ago, Pfizer (ticker: PFE) CEO Albert Bourla asked investors to take a big gamble on the research-and-development operation that Dolsten has rebuilt over the course of more than a decade. That bet is looking smarter than ever.</p><p><blockquote>两年前，辉瑞（股票代码：PFE）首席执行官阿尔伯特·布尔拉（Albert Bourla）要求投资者对多尔斯滕十多年来重建的研发业务进行豪赌。这个赌注看起来比以往任何时候都更聪明。</blockquote></p><p> Bourla has gotten rid of Pfizer’s off-patent drugs division and the last of its consumer health products, leaving behind a pure-play biopharma company that will live or die on the strength of Dolsten’s science.</p><p><blockquote>Bourla已经摆脱了辉瑞的非专利药物部门及其最后的消费者健康产品，留下了一家纯粹的生物制药公司，该公司的生死存亡都取决于Dolsten的科学实力。</blockquote></p><p> In a cover story in November 2019, <i>Barron’s</i> argued that Bourla and Dolsten could pull it off.</p><p><blockquote>在2019年11月的一篇封面报道中，<i>巴伦周刊</i>认为布尔拉和多尔斯滕可以成功。</blockquote></p><p> The new antiviral data reaffirms the case for Pfizer that <i>Barron’s</i> made two years ago. Continuing to profit off the pandemic, however, brings new risks, as criticism grows over the global inequity in vaccine distribution. Low-income nations account for less than 1% of the more than seven billion doses administered worldwide. If distribution of Pfizer’s antiviral continues to favor wealthy nations, the company’s stock could ultimately suffer.</p><p><blockquote>新的抗病毒数据再次证实了辉瑞的理由<i>巴伦周刊</i>两年前做的。然而，随着对全球疫苗分配不平等的批评越来越多，继续从大流行中获利会带来新的风险。在全球超过70亿剂疫苗中，低收入国家仅占不到1%。如果辉瑞抗病毒药物的分销继续有利于富裕国家，该公司的股票最终可能会受到影响。</blockquote></p><p> Pfizer’s shares surged 10.9% the day the data came out, their best daily showing in at least 20 years. Still, with the stock now changing hands at around $50, investors continue to undervalue the company. Investors are pricing Pfizer at 12 times next year’s expected earnings, cheaper than peers like&nbsp;Johnson &amp; Johnson&nbsp;(JNJ) and&nbsp;Eli Lilly&nbsp;(LLY).</p><p><blockquote>数据公布当天，辉瑞股价飙升10.9%，创下至少20年来的最佳单日表现。尽管如此，由于该股目前易手价格约为50美元，投资者继续低估该公司的价值。投资者对辉瑞的定价是明年预期收益的12倍，低于强生(JNJ)和礼来(LLY)等同行。</blockquote></p><p> The Pfizer discount can be attributed to concerns over the patent cliff the drugmaker faces at the end of the decade. The company stands to lose exclusivity over a handful of drugs that bring in billions in annual revenue.</p><p><blockquote>辉瑞的折扣可归因于对该制药商在本世纪末面临专利悬崖的担忧。该公司将失去对少数年收入数十亿美元的药物的独家经营权。</blockquote></p><p> The worries are legitimate, but Pfizer’s scientific coup should give investors confidence that the company’s science can carry it safely over that cliff. It may take time for the market to catch up, but for long-term investors, it’s a promising opportunity.</p><p><blockquote>这些担忧是合理的，但辉瑞的科学政变应该让投资者相信该公司的科学能够安全地越过悬崖。市场可能需要时间才能赶上，但对于长期投资者来说，这是一个充满希望的机会。</blockquote></p><p> The success of the antiviral is the best illustration yet of Pfizer’s scientific prowess.</p><p><blockquote>抗病毒药物的成功是辉瑞科学实力的最佳例证。</blockquote></p><p> While Pfizer’s Covid-19 vaccine came out of the labs of the German biotech&nbsp;BioNTech&nbsp;(BNTX), the new Covid-19 antiviral was whipped up by what Dolsten called a “dream team” of scientists at Pfizer’s own labs across the Northeast U.S.</p><p><blockquote>虽然辉瑞的新冠肺炎疫苗来自德国生物技术公司BioNTech(BNTX)的实验室，但新的新冠肺炎抗病毒药物是由多尔斯滕所说的辉瑞位于美国东北部实验室的科学家“梦之队”研制出来的。</blockquote></p><p> In the earliest days of the pandemic, Pfizer split its efforts between its collaboration with BioNTech on the vaccine and its quest for a Covid-19 pill. The vaccine effort operated on a huge scale; Dolsten called it a “mega team” that spanned the Atlantic.</p><p><blockquote>在大流行的早期，辉瑞公司将其工作分为与BioNTech在疫苗上的合作和对Covid-19药丸的探索。疫苗工作规模巨大；多尔斯滕称之为横跨大西洋的“巨型团队”。</blockquote></p><p> The antiviral project was a much smaller operation—a group of Pfizer experts operating with resources left over from the vaccine push.</p><p><blockquote>抗病毒项目规模要小得多——一组辉瑞专家利用疫苗推广剩余的资源进行运营。</blockquote></p><p> “The small molecule was more like a nimble, laser-focused, high-end team, with rather moderate resources,” Dolsten said.</p><p><blockquote>“小分子更像是一个灵活、专注于激光的高端团队，拥有相当适中的资源，”多尔斯滕说。</blockquote></p><p> Dolsten gathered some of Pfizer’s most experienced scientists to work on the antiviral project, including its head of medicine design, Charlotte Allerton. The scientists started with work Pfizer had done years ago on a type of antiviral called a protease inhibitor.</p><p><blockquote>多尔斯滕召集了辉瑞公司一些最有经验的科学家参与抗病毒项目，其中包括药物设计主管夏洛特·阿勒顿。科学家们从辉瑞公司多年前在一种叫做蛋白酶抑制剂的抗病毒药物上所做的工作开始。</blockquote></p><p> “[Pfizer’s] pharmaceutical R&amp;D is better than people had thought.”</p><p><blockquote>“（辉瑞的）制药研发比人们想象的要好。”</blockquote></p><p> The protease inhibitors in the Pfizer library, however, had been administered intravenously, and had not worked well when delivered orally. The team had to figure out how to adapt the drugs to oral administration, a substantial undertaking.</p><p><blockquote>然而，辉瑞文库中的蛋白酶抑制剂已经静脉内施用，并且当口服递送时效果不佳。该团队必须弄清楚如何使药物适应口服给药，这是一项艰巨的任务。</blockquote></p><p> “They had to really create a lot of new chemistry,” Dolsten said. The scientists created 600 compounds to nail down the right drug, a process that might normally take years, and which they accomplished in a matter of months. “Four years turned into four months here,” he said.</p><p><blockquote>“他们必须真正创造很多新的化学反应，”多尔斯滕说。科学家们创造了600种化合物来确定正确的药物，这个过程通常可能需要数年时间，但他们在几个月内就完成了。“在这里，四年变成了四个月，”他说。</blockquote></p><p> Pfizer started testing the pill in humans in March. It is now running a number of Phase 2/3 trials of the drug, including one for patients who are high risk, one for patients not high risk, and one as a prophylaxis for patients who have been exposed to the virus but aren’t yet sick. In the first readout, the drug looked substantially more effective than the Covid treatment pill from&nbsp;Merck&nbsp;(MRK).</p><p><blockquote>辉瑞公司于三月份开始在人体中测试这种药物。该公司目前正在进行该药物的多项2/3期试验，包括一项针对高风险患者，一项针对非高风险患者，以及一项针对接触过病毒但尚未患病的患者的预防试验。在第一次读数中，该药物看起来比默克公司(MRK)的新冠治疗药物有效得多。</blockquote></p><p> “It definitely helps prove the point that [Pfizer’s] pharmaceutical R&amp;D is better than people had thought,” says Louise Chen, an analyst at Cantor Fitzgerald, who has an Overweight rating and a $61 price target on the stock.</p><p><blockquote>Cantor Fitzgerald分析师Louise Chen表示：“这无疑有助于证明辉瑞的制药研发比人们想象的要好。”她对该股给予跑赢大盘评级，目标价为61美元。</blockquote></p><p></p><p> Chen says that she doesn’t expect investors to come around to her way of thinking until there is more clarity on the durability of Covid-19 vaccine and pill sales, and the rest of the pipeline gets proved out.</p><p><blockquote>陈表示，在Covid-19疫苗和药丸销售的持久性更加明确以及其余产品得到证实之前，她预计投资者不会接受她的想法。</blockquote></p><p> “There is not one event that I think will trigger a re-rating of the stock at the next level,” she says. “Until those things play out, I don’t think that it necessarily will.”</p><p><blockquote>“我认为没有一个事件会引发该股下一个级别的重新评级，”她说。“在这些事情发生之前，我认为不一定会发生。”</blockquote></p><p> That makes a bet on Pfizer a long-term play. In the meantime, the experience of&nbsp;Moderna&nbsp;(MRNA) in recent weeks is highlighting the potential for the vaccine makers to come under scrutiny over unequal distribution of vaccines.</p><p><blockquote>这使得对辉瑞的押注成为一项长期投资。与此同时，Moderna(MRNA)最近几周的经历凸显了疫苗制造商因疫苗分配不平等而受到审查的可能性。</blockquote></p><p> Biden administration officials have been increasingly frustrated with Moderna, calling on the company to ramp up production so it can offer more doses at not-for-profit prices to low-income countries, with one top official calling on the company to “step up.”</p><p><blockquote>拜登政府官员对Moderna越来越失望，呼吁该公司提高产量，以便能够以非营利价格向低收入国家提供更多剂量，一位高级官员呼吁该公司“挺身而出”。</blockquote></p><p> Moderna shares are down more than 40% over the past three months.</p><p><blockquote>Moderna股价在过去三个月下跌了40%以上。</blockquote></p><p> As the pandemic persists, Pfizer risks eroding the enormous goodwill it earned roughly a year ago when it introduced its Covid-19 vaccine. Earlier this month, Pfizer CEO Bourla blamed low-income countries for unfair vaccine distribution, telling <i>Barron’s</i> that it was their fault for not placing orders. Pfizer has sold a billion vaccine doses to the U.S. at a not-for-profit price to donate to poor countries, and says that a total of at least two billion doses will be delivered to low- and middle-income nations by the end of next year.</p><p><blockquote>随着疫情的持续，辉瑞面临着侵蚀大约一年前推出Covid-19疫苗时赢得的巨大商誉的风险。本月早些时候，辉瑞首席执行官布尔拉指责低收入国家疫苗分配不公平，告诉<i>巴伦周刊</i>没有下订单是他们的错。辉瑞公司已以非营利价格向美国出售了10亿剂疫苗，捐赠给贫穷国家，并表示到明年年底将向中低收入国家提供总计至少20亿剂疫苗。</blockquote></p><p> When it comes to antivirals, Pfizer has said only that it will offer tiered pricing for poorer nations, the same approach it has taken with its vaccine.</p><p><blockquote>在抗病毒药物方面，辉瑞仅表示将为较贫穷国家提供分级定价，与其疫苗采取的方法相同。</blockquote></p><p> That contrasts sharply with Merck’s plan to make its own Covid-19 pill available to poor countries. Merck has signed a deal with a United Nations-backed group that will allow its pill to be licensed globally, with no royalties paid to Merck.</p><p><blockquote>这与默克公司向贫穷国家提供自己的Covid-19药丸的计划形成鲜明对比。默克公司已与一个联合国支持的组织签署了一项协议，允许其药丸在全球范围内获得许可，无需向默克公司支付特许权使用费。</blockquote></p><p> Dolsten said that Pfizer is looking into licensing its pill under a similar mechanism as Merck’s. “We will look at those options,” he said. “By no means have we said we would do something different. We just want to make sure whoever will be involved gets the advice and skill to do this.”</p><p><blockquote>多尔斯滕表示，辉瑞正在考虑根据与默克类似的机制许可其药物。“我们将考虑这些选择，”他说。“我们绝不是说我们会做一些不同的事情。我们只是想确保参与其中的人都能获得这样做的建议和技能。”</blockquote></p><p> Such a step couldn’t come soon enough. Late last month, activists protested outside Bourla’s home, calling on Pfizer to share its vaccine manufacturing technology and to fill orders from low-income countries ahead of those from wealthy countries.</p><p><blockquote>这样的一步来得太快了。上月底，活动人士在布尔拉家外抗议，呼吁辉瑞分享其疫苗制造技术，并在富裕国家之前完成低收入国家的订单。</blockquote></p><p> An aggressive plan to share its antiviral would help stave off such criticism, keeping Pfizer in the relative good graces of Washington and allowing its impressive science to continue to drive the stock higher.</p><p><blockquote>分享其抗病毒药物的积极计划将有助于避免此类批评，使辉瑞公司相对受到华盛顿的青睐，并使其令人印象深刻的科学知识继续推动股价走高。</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>Pfizer Shows Its R&D Is Strong. It’s a Good Sign for the Stock.<blockquote>辉瑞显示其研发实力雄厚。这对该股来说是一个好兆头。</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\">\nPfizer Shows Its R&D Is Strong. It’s a Good Sign for the Stock.<blockquote>辉瑞显示其研发实力雄厚。这对该股来说是一个好兆头。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-11-13 11:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Pfizer’s&nbsp;chief scientific officer, Mikael Dolsten, sounded giddy when reached via telephone early Monday morning. It was just days after his company knocked the socks off the market with the news that its Covid-19 antiviral had cut the risk of hospitalization by 89% in high-risk adults.</p><p><blockquote>周一早上，辉瑞公司首席科学官米凯尔·多尔斯滕(Mikael Dolsten)接到电话时，听起来很头晕。就在几天前，他的公司宣布其Covid-19抗病毒药物将高危成年人的住院风险降低了89%。</blockquote></p><p> “It can’t be just a random thing, that you’re able to beat this type of world record and get a grand slam at the same time by chance,” Dolsten said, scrambling sports metaphors as he sought to illustrate the magnitude of Pfizer’s twin wins: the development of a stunningly effective Covid-19 vaccine in just 10 months, followed a year later by the development of a similarly stunning Covid-19 antiviral.</p><p><blockquote>多尔斯滕说：“你能够打破这种类型的世界纪录，同时偶然获得大满贯，这不可能只是一件随机的事情。”他在试图说明辉瑞的双重胜利：在短短10个月内开发出了一种效果惊人的Covid-19疫苗，一年后又开发出了一种同样令人惊叹的Covid-19抗病毒药物。</blockquote></p><p> Two years ago, Pfizer (ticker: PFE) CEO Albert Bourla asked investors to take a big gamble on the research-and-development operation that Dolsten has rebuilt over the course of more than a decade. That bet is looking smarter than ever.</p><p><blockquote>两年前，辉瑞（股票代码：PFE）首席执行官阿尔伯特·布尔拉（Albert Bourla）要求投资者对多尔斯滕十多年来重建的研发业务进行豪赌。这个赌注看起来比以往任何时候都更聪明。</blockquote></p><p> Bourla has gotten rid of Pfizer’s off-patent drugs division and the last of its consumer health products, leaving behind a pure-play biopharma company that will live or die on the strength of Dolsten’s science.</p><p><blockquote>Bourla已经摆脱了辉瑞的非专利药物部门及其最后的消费者健康产品，留下了一家纯粹的生物制药公司，该公司的生死存亡都取决于Dolsten的科学实力。</blockquote></p><p> In a cover story in November 2019, <i>Barron’s</i> argued that Bourla and Dolsten could pull it off.</p><p><blockquote>在2019年11月的一篇封面报道中，<i>巴伦周刊</i>认为布尔拉和多尔斯滕可以成功。</blockquote></p><p> The new antiviral data reaffirms the case for Pfizer that <i>Barron’s</i> made two years ago. Continuing to profit off the pandemic, however, brings new risks, as criticism grows over the global inequity in vaccine distribution. Low-income nations account for less than 1% of the more than seven billion doses administered worldwide. If distribution of Pfizer’s antiviral continues to favor wealthy nations, the company’s stock could ultimately suffer.</p><p><blockquote>新的抗病毒数据再次证实了辉瑞的理由<i>巴伦周刊</i>两年前做的。然而，随着对全球疫苗分配不平等的批评越来越多，继续从大流行中获利会带来新的风险。在全球超过70亿剂疫苗中，低收入国家仅占不到1%。如果辉瑞抗病毒药物的分销继续有利于富裕国家，该公司的股票最终可能会受到影响。</blockquote></p><p> Pfizer’s shares surged 10.9% the day the data came out, their best daily showing in at least 20 years. Still, with the stock now changing hands at around $50, investors continue to undervalue the company. Investors are pricing Pfizer at 12 times next year’s expected earnings, cheaper than peers like&nbsp;Johnson &amp; Johnson&nbsp;(JNJ) and&nbsp;Eli Lilly&nbsp;(LLY).</p><p><blockquote>数据公布当天，辉瑞股价飙升10.9%，创下至少20年来的最佳单日表现。尽管如此，由于该股目前易手价格约为50美元，投资者继续低估该公司的价值。投资者对辉瑞的定价是明年预期收益的12倍，低于强生(JNJ)和礼来(LLY)等同行。</blockquote></p><p> The Pfizer discount can be attributed to concerns over the patent cliff the drugmaker faces at the end of the decade. The company stands to lose exclusivity over a handful of drugs that bring in billions in annual revenue.</p><p><blockquote>辉瑞的折扣可归因于对该制药商在本世纪末面临专利悬崖的担忧。该公司将失去对少数年收入数十亿美元的药物的独家经营权。</blockquote></p><p> The worries are legitimate, but Pfizer’s scientific coup should give investors confidence that the company’s science can carry it safely over that cliff. It may take time for the market to catch up, but for long-term investors, it’s a promising opportunity.</p><p><blockquote>这些担忧是合理的，但辉瑞的科学政变应该让投资者相信该公司的科学能够安全地越过悬崖。市场可能需要时间才能赶上，但对于长期投资者来说，这是一个充满希望的机会。</blockquote></p><p> The success of the antiviral is the best illustration yet of Pfizer’s scientific prowess.</p><p><blockquote>抗病毒药物的成功是辉瑞科学实力的最佳例证。</blockquote></p><p> While Pfizer’s Covid-19 vaccine came out of the labs of the German biotech&nbsp;BioNTech&nbsp;(BNTX), the new Covid-19 antiviral was whipped up by what Dolsten called a “dream team” of scientists at Pfizer’s own labs across the Northeast U.S.</p><p><blockquote>虽然辉瑞的新冠肺炎疫苗来自德国生物技术公司BioNTech(BNTX)的实验室，但新的新冠肺炎抗病毒药物是由多尔斯滕所说的辉瑞位于美国东北部实验室的科学家“梦之队”研制出来的。</blockquote></p><p> In the earliest days of the pandemic, Pfizer split its efforts between its collaboration with BioNTech on the vaccine and its quest for a Covid-19 pill. The vaccine effort operated on a huge scale; Dolsten called it a “mega team” that spanned the Atlantic.</p><p><blockquote>在大流行的早期，辉瑞公司将其工作分为与BioNTech在疫苗上的合作和对Covid-19药丸的探索。疫苗工作规模巨大；多尔斯滕称之为横跨大西洋的“巨型团队”。</blockquote></p><p> The antiviral project was a much smaller operation—a group of Pfizer experts operating with resources left over from the vaccine push.</p><p><blockquote>抗病毒项目规模要小得多——一组辉瑞专家利用疫苗推广剩余的资源进行运营。</blockquote></p><p> “The small molecule was more like a nimble, laser-focused, high-end team, with rather moderate resources,” Dolsten said.</p><p><blockquote>“小分子更像是一个灵活、专注于激光的高端团队，拥有相当适中的资源，”多尔斯滕说。</blockquote></p><p> Dolsten gathered some of Pfizer’s most experienced scientists to work on the antiviral project, including its head of medicine design, Charlotte Allerton. The scientists started with work Pfizer had done years ago on a type of antiviral called a protease inhibitor.</p><p><blockquote>多尔斯滕召集了辉瑞公司一些最有经验的科学家参与抗病毒项目，其中包括药物设计主管夏洛特·阿勒顿。科学家们从辉瑞公司多年前在一种叫做蛋白酶抑制剂的抗病毒药物上所做的工作开始。</blockquote></p><p> “[Pfizer’s] pharmaceutical R&amp;D is better than people had thought.”</p><p><blockquote>“（辉瑞的）制药研发比人们想象的要好。”</blockquote></p><p> The protease inhibitors in the Pfizer library, however, had been administered intravenously, and had not worked well when delivered orally. The team had to figure out how to adapt the drugs to oral administration, a substantial undertaking.</p><p><blockquote>然而，辉瑞文库中的蛋白酶抑制剂已经静脉内施用，并且当口服递送时效果不佳。该团队必须弄清楚如何使药物适应口服给药，这是一项艰巨的任务。</blockquote></p><p> “They had to really create a lot of new chemistry,” Dolsten said. The scientists created 600 compounds to nail down the right drug, a process that might normally take years, and which they accomplished in a matter of months. “Four years turned into four months here,” he said.</p><p><blockquote>“他们必须真正创造很多新的化学反应，”多尔斯滕说。科学家们创造了600种化合物来确定正确的药物，这个过程通常可能需要数年时间，但他们在几个月内就完成了。“在这里，四年变成了四个月，”他说。</blockquote></p><p> Pfizer started testing the pill in humans in March. It is now running a number of Phase 2/3 trials of the drug, including one for patients who are high risk, one for patients not high risk, and one as a prophylaxis for patients who have been exposed to the virus but aren’t yet sick. In the first readout, the drug looked substantially more effective than the Covid treatment pill from&nbsp;Merck&nbsp;(MRK).</p><p><blockquote>辉瑞公司于三月份开始在人体中测试这种药物。该公司目前正在进行该药物的多项2/3期试验，包括一项针对高风险患者，一项针对非高风险患者，以及一项针对接触过病毒但尚未患病的患者的预防试验。在第一次读数中，该药物看起来比默克公司(MRK)的新冠治疗药物有效得多。</blockquote></p><p> “It definitely helps prove the point that [Pfizer’s] pharmaceutical R&amp;D is better than people had thought,” says Louise Chen, an analyst at Cantor Fitzgerald, who has an Overweight rating and a $61 price target on the stock.</p><p><blockquote>Cantor Fitzgerald分析师Louise Chen表示：“这无疑有助于证明辉瑞的制药研发比人们想象的要好。”她对该股给予跑赢大盘评级，目标价为61美元。</blockquote></p><p></p><p> Chen says that she doesn’t expect investors to come around to her way of thinking until there is more clarity on the durability of Covid-19 vaccine and pill sales, and the rest of the pipeline gets proved out.</p><p><blockquote>陈表示，在Covid-19疫苗和药丸销售的持久性更加明确以及其余产品得到证实之前，她预计投资者不会接受她的想法。</blockquote></p><p> “There is not one event that I think will trigger a re-rating of the stock at the next level,” she says. “Until those things play out, I don’t think that it necessarily will.”</p><p><blockquote>“我认为没有一个事件会引发该股下一个级别的重新评级，”她说。“在这些事情发生之前，我认为不一定会发生。”</blockquote></p><p> That makes a bet on Pfizer a long-term play. In the meantime, the experience of&nbsp;Moderna&nbsp;(MRNA) in recent weeks is highlighting the potential for the vaccine makers to come under scrutiny over unequal distribution of vaccines.</p><p><blockquote>这使得对辉瑞的押注成为一项长期投资。与此同时，Moderna(MRNA)最近几周的经历凸显了疫苗制造商因疫苗分配不平等而受到审查的可能性。</blockquote></p><p> Biden administration officials have been increasingly frustrated with Moderna, calling on the company to ramp up production so it can offer more doses at not-for-profit prices to low-income countries, with one top official calling on the company to “step up.”</p><p><blockquote>拜登政府官员对Moderna越来越失望，呼吁该公司提高产量，以便能够以非营利价格向低收入国家提供更多剂量，一位高级官员呼吁该公司“挺身而出”。</blockquote></p><p> Moderna shares are down more than 40% over the past three months.</p><p><blockquote>Moderna股价在过去三个月下跌了40%以上。</blockquote></p><p> As the pandemic persists, Pfizer risks eroding the enormous goodwill it earned roughly a year ago when it introduced its Covid-19 vaccine. Earlier this month, Pfizer CEO Bourla blamed low-income countries for unfair vaccine distribution, telling <i>Barron’s</i> that it was their fault for not placing orders. Pfizer has sold a billion vaccine doses to the U.S. at a not-for-profit price to donate to poor countries, and says that a total of at least two billion doses will be delivered to low- and middle-income nations by the end of next year.</p><p><blockquote>随着疫情的持续，辉瑞面临着侵蚀大约一年前推出Covid-19疫苗时赢得的巨大商誉的风险。本月早些时候，辉瑞首席执行官布尔拉指责低收入国家疫苗分配不公平，告诉<i>巴伦周刊</i>没有下订单是他们的错。辉瑞公司已以非营利价格向美国出售了10亿剂疫苗，捐赠给贫穷国家，并表示到明年年底将向中低收入国家提供总计至少20亿剂疫苗。</blockquote></p><p> When it comes to antivirals, Pfizer has said only that it will offer tiered pricing for poorer nations, the same approach it has taken with its vaccine.</p><p><blockquote>在抗病毒药物方面，辉瑞仅表示将为较贫穷国家提供分级定价，与其疫苗采取的方法相同。</blockquote></p><p> That contrasts sharply with Merck’s plan to make its own Covid-19 pill available to poor countries. Merck has signed a deal with a United Nations-backed group that will allow its pill to be licensed globally, with no royalties paid to Merck.</p><p><blockquote>这与默克公司向贫穷国家提供自己的Covid-19药丸的计划形成鲜明对比。默克公司已与一个联合国支持的组织签署了一项协议，允许其药丸在全球范围内获得许可，无需向默克公司支付特许权使用费。</blockquote></p><p> Dolsten said that Pfizer is looking into licensing its pill under a similar mechanism as Merck’s. “We will look at those options,” he said. “By no means have we said we would do something different. We just want to make sure whoever will be involved gets the advice and skill to do this.”</p><p><blockquote>多尔斯滕表示，辉瑞正在考虑根据与默克类似的机制许可其药物。“我们将考虑这些选择，”他说。“我们绝不是说我们会做一些不同的事情。我们只是想确保参与其中的人都能获得这样做的建议和技能。”</blockquote></p><p> Such a step couldn’t come soon enough. Late last month, activists protested outside Bourla’s home, calling on Pfizer to share its vaccine manufacturing technology and to fill orders from low-income countries ahead of those from wealthy countries.</p><p><blockquote>这样的一步来得太快了。上月底，活动人士在布尔拉家外抗议，呼吁辉瑞分享其疫苗制造技术，并在富裕国家之前完成低收入国家的订单。</blockquote></p><p> An aggressive plan to share its antiviral would help stave off such criticism, keeping Pfizer in the relative good graces of Washington and allowing its impressive science to continue to drive the stock higher.</p><p><blockquote>分享其抗病毒药物的积极计划将有助于避免此类批评，使辉瑞公司相对受到华盛顿的青睐，并使其令人印象深刻的科学知识继续推动股价走高。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/buy-pfizer-stock-covid-19-51636674652?mod=hp_LEAD_1\">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":{"PFE":"辉瑞"},"source_url":"https://www.barrons.com/articles/buy-pfizer-stock-covid-19-51636674652?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102251183","content_text":"Pfizer’s chief scientific officer, Mikael Dolsten, sounded giddy when reached via telephone early Monday morning. It was just days after his company knocked the socks off the market with the news that its Covid-19 antiviral had cut the risk of hospitalization by 89% in high-risk adults.\n“It can’t be just a random thing, that you’re able to beat this type of world record and get a grand slam at the same time by chance,” Dolsten said, scrambling sports metaphors as he sought to illustrate the magnitude of Pfizer’s twin wins: the development of a stunningly effective Covid-19 vaccine in just 10 months, followed a year later by the development of a similarly stunning Covid-19 antiviral.\nTwo years ago, Pfizer (ticker: PFE) CEO Albert Bourla asked investors to take a big gamble on the research-and-development operation that Dolsten has rebuilt over the course of more than a decade. That bet is looking smarter than ever.\nBourla has gotten rid of Pfizer’s off-patent drugs division and the last of its consumer health products, leaving behind a pure-play biopharma company that will live or die on the strength of Dolsten’s science.\nIn a cover story in November 2019, Barron’s argued that Bourla and Dolsten could pull it off.\nThe new antiviral data reaffirms the case for Pfizer that Barron’s made two years ago. Continuing to profit off the pandemic, however, brings new risks, as criticism grows over the global inequity in vaccine distribution. Low-income nations account for less than 1% of the more than seven billion doses administered worldwide. If distribution of Pfizer’s antiviral continues to favor wealthy nations, the company’s stock could ultimately suffer.\nPfizer’s shares surged 10.9% the day the data came out, their best daily showing in at least 20 years. Still, with the stock now changing hands at around $50, investors continue to undervalue the company. Investors are pricing Pfizer at 12 times next year’s expected earnings, cheaper than peers like Johnson & Johnson (JNJ) and Eli Lilly (LLY).\nThe Pfizer discount can be attributed to concerns over the patent cliff the drugmaker faces at the end of the decade. The company stands to lose exclusivity over a handful of drugs that bring in billions in annual revenue.\nThe worries are legitimate, but Pfizer’s scientific coup should give investors confidence that the company’s science can carry it safely over that cliff. It may take time for the market to catch up, but for long-term investors, it’s a promising opportunity.\nThe success of the antiviral is the best illustration yet of Pfizer’s scientific prowess.\nWhile Pfizer’s Covid-19 vaccine came out of the labs of the German biotech BioNTech (BNTX), the new Covid-19 antiviral was whipped up by what Dolsten called a “dream team” of scientists at Pfizer’s own labs across the Northeast U.S.\nIn the earliest days of the pandemic, Pfizer split its efforts between its collaboration with BioNTech on the vaccine and its quest for a Covid-19 pill. The vaccine effort operated on a huge scale; Dolsten called it a “mega team” that spanned the Atlantic.\nThe antiviral project was a much smaller operation—a group of Pfizer experts operating with resources left over from the vaccine push.\n“The small molecule was more like a nimble, laser-focused, high-end team, with rather moderate resources,” Dolsten said.\nDolsten gathered some of Pfizer’s most experienced scientists to work on the antiviral project, including its head of medicine design, Charlotte Allerton. The scientists started with work Pfizer had done years ago on a type of antiviral called a protease inhibitor.\n“[Pfizer’s] pharmaceutical R&D is better than people had thought.”\nThe protease inhibitors in the Pfizer library, however, had been administered intravenously, and had not worked well when delivered orally. The team had to figure out how to adapt the drugs to oral administration, a substantial undertaking.\n“They had to really create a lot of new chemistry,” Dolsten said. The scientists created 600 compounds to nail down the right drug, a process that might normally take years, and which they accomplished in a matter of months. “Four years turned into four months here,” he said.\nPfizer started testing the pill in humans in March. It is now running a number of Phase 2/3 trials of the drug, including one for patients who are high risk, one for patients not high risk, and one as a prophylaxis for patients who have been exposed to the virus but aren’t yet sick. In the first readout, the drug looked substantially more effective than the Covid treatment pill from Merck (MRK).\n“It definitely helps prove the point that [Pfizer’s] pharmaceutical R&D is better than people had thought,” says Louise Chen, an analyst at Cantor Fitzgerald, who has an Overweight rating and a $61 price target on the stock.\nChen says that she doesn’t expect investors to come around to her way of thinking until there is more clarity on the durability of Covid-19 vaccine and pill sales, and the rest of the pipeline gets proved out.\n“There is not one event that I think will trigger a re-rating of the stock at the next level,” she says. “Until those things play out, I don’t think that it necessarily will.”\nThat makes a bet on Pfizer a long-term play. In the meantime, the experience of Moderna (MRNA) in recent weeks is highlighting the potential for the vaccine makers to come under scrutiny over unequal distribution of vaccines.\nBiden administration officials have been increasingly frustrated with Moderna, calling on the company to ramp up production so it can offer more doses at not-for-profit prices to low-income countries, with one top official calling on the company to “step up.”\nModerna shares are down more than 40% over the past three months.\nAs the pandemic persists, Pfizer risks eroding the enormous goodwill it earned roughly a year ago when it introduced its Covid-19 vaccine. Earlier this month, Pfizer CEO Bourla blamed low-income countries for unfair vaccine distribution, telling Barron’s that it was their fault for not placing orders. Pfizer has sold a billion vaccine doses to the U.S. at a not-for-profit price to donate to poor countries, and says that a total of at least two billion doses will be delivered to low- and middle-income nations by the end of next year.\nWhen it comes to antivirals, Pfizer has said only that it will offer tiered pricing for poorer nations, the same approach it has taken with its vaccine.\nThat contrasts sharply with Merck’s plan to make its own Covid-19 pill available to poor countries. Merck has signed a deal with a United Nations-backed group that will allow its pill to be licensed globally, with no royalties paid to Merck.\nDolsten said that Pfizer is looking into licensing its pill under a similar mechanism as Merck’s. “We will look at those options,” he said. “By no means have we said we would do something different. We just want to make sure whoever will be involved gets the advice and skill to do this.”\nSuch a step couldn’t come soon enough. Late last month, activists protested outside Bourla’s home, calling on Pfizer to share its vaccine manufacturing technology and to fill orders from low-income countries ahead of those from wealthy countries.\nAn aggressive plan to share its antiviral would help stave off such criticism, keeping Pfizer in the relative good graces of Washington and allowing its impressive science to continue to drive the stock higher.","news_type":1,"symbols_score_info":{"PFE":0.9}},"isVote":1,"tweetType":1,"viewCount":1080,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":848990926,"gmtCreate":1635951629271,"gmtModify":1635954701996,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848990926","repostId":"1150419485","repostType":4,"isVote":1,"tweetType":1,"viewCount":1433,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":843673270,"gmtCreate":1635827954343,"gmtModify":1635829822708,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/843673270","repostId":"2180209403","repostType":4,"isVote":1,"tweetType":1,"viewCount":1354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":849278805,"gmtCreate":1635762552299,"gmtModify":1635766701905,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/849278805","repostId":"2179250221","repostType":4,"repost":{"id":"2179250221","kind":"news","pubTimestamp":1635721559,"share":"https://www.laohu8.com/m/news/2179250221?lang=zh_CN&edition=full","pubTime":"2021-11-01 07:05","market":"us","language":"en","title":"Federal Reserve decision, October jobs report: What to know this week<blockquote>美联储决定、十月就业报告：本周需要了解什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2179250221","media":"Yahoo Finance","summary":"The Federal Reserve's forthcoming monetary policy meeting will be in focus this week, and may set th","content":"<p><div> The Federal Reserve's forthcoming monetary policy meeting will be in focus this week, and may set the stage for a long-awaited announcement of asset-purchase tapering. Meanwhile, traders will also ...</p><p><blockquote><div>美联储即将召开的货币政策会议将成为本周的焦点，并可能为期待已久的资产购买缩减公告奠定基础。与此同时，交易者也将...</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/federal-reserve-meeting-october-jobs-report-what-to-know-this-week-151259921.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/federal-reserve-meeting-october-jobs-report-what-to-know-this-week-151259921.html\">网页连接</a></blockquote></p><p></p>","source":"yahoofinance_au","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>Federal Reserve decision, October jobs report: What to know this week<blockquote>美联储决定、十月就业报告：本周需要了解什么</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFederal Reserve decision, October jobs report: What to know this week<blockquote>美联储决定、十月就业报告：本周需要了解什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Yahoo Finance</strong><span class=\"h-time small\">2021-11-01 07:05</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> The Federal Reserve's forthcoming monetary policy meeting will be in focus this week, and may set the stage for a long-awaited announcement of asset-purchase tapering. Meanwhile, traders will also ...</p><p><blockquote><div>美联储即将召开的货币政策会议将成为本周的焦点，并可能为期待已久的资产购买缩减公告奠定基础。与此同时，交易者也将...</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/federal-reserve-meeting-october-jobs-report-what-to-know-this-week-151259921.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/federal-reserve-meeting-october-jobs-report-what-to-know-this-week-151259921.html\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/federal-reserve-meeting-october-jobs-report-what-to-know-this-week-151259921.html\">Yahoo Finance</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":{"RL":"拉夫劳伦","ATVI":"动视暴雪","BLMN":"Bloomin' Brands","COP":"康菲石油","CLX":"高乐氏",".DJI":"道琼斯","APO":"阿波罗全球管理","UBER":"优步",".IXIC":"NASDAQ Composite","PFE":"辉瑞","CRSR":"Corsair Gaming, Inc.",".SPX":"S&P 500 Index","EL":"雅诗兰黛"},"source_url":"https://finance.yahoo.com/news/federal-reserve-meeting-october-jobs-report-what-to-know-this-week-151259921.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2179250221","content_text":"The Federal Reserve's forthcoming monetary policy meeting will be in focus this week, and may set the stage for a long-awaited announcement of asset-purchase tapering. Meanwhile, traders will also await more data on the U.S. economic recovery with the Labor Department's monthly jobs report later this week.\nThe Federal Open Market Committee's (FOMC) November meeting will take place from Tuesday to Wednesday, with the policy statement and press conference from the meeting serving as the central bank's penultimate opportunity this year to announce formal plans to begin rolling back its crisis-era quantitative easing program. For the past year-and-a-half, the central bank has been purchasing $120 billion per month in agency mortgage-backed securities and Treasuries, as one major tool to support the economy during the pandemic.\nIn late September, the FOMC's latest monetary policy statement and press conference from Federal Reserve Chair Jerome Powell suggested the central bank was apt to announce the start of tapering before year-end, and continue the tapering process until \"around the middle of next year.\"\n\"The upcoming FOMC meeting will be important for three reasons: 1) the announcement of tapering; 2) guidance around what tapering means for the path of hikes; and 3) nuanced changes in views around inflation risks given recent data,\" wrote Bank of America economist Michelle Meyer in a note.\n\"The statement that announces the new pace of asset purchases will be followed by a note regarding flexibility stating that asset purchases are not on a pre-set course and will depend on the outlook for the labor market and inflation as well as an assessment of the efficacy of asset purchases,\" she predicted.\nShe noted that Powell may also use the press conference to reiterate that the end of tapering would not necessarily indicate the start of rate hikes, and that both policy actions are distinct. In previous public remarks, Powell has already made a similar point in previous public remarks, saying, \"the timing and pace of the coming reduction in asset purchases will not be intended to carry a direct signal regarding the timing of interest rate liftoff.\"\nGiven the market has been anticipating the start to tapering for months now, speculation around when the Fed will make a move on interest rates has become a point of particular interest to investors. Investors and economists have mulled whether the Fed may need to act more quickly than previously telegraphed on adjusting interest rates to stave off inflation, which has proven more long-lasting than some had suggested.\nWASHINGTON, DC - SEPTEMBER 24: Federal Reserve Board Chairman Jerome Powell testifies during a Senate Banking Committee hearing on Capitol Hill on September 24, 2020 in Washington, DC. Powell and U.S. Treasury Secretary Steve Mnuchin are testifying about the CARES Act and the economic effects of the coronavirus pandemic. (Photo by Drew Angerer/Getty Images)Drew Angerer via Getty Images\nIn September, core personal consumption expenditures — the Fed's preferred gauge of underlying inflation — rose 3.6% over last year for a fourth consecutive month, coming in at the fastest clip since 1991. And earlier this month, Powell acknowledged in public remarks that the supply chain constraints and shortages that spurred the latest rise in prices are \"likely to last longer than previously expected, likely well into next year.\"\nWhile the central bank will not release an updated Summary of Economic Projections with their policy statement on Wednesday, the latest projections from the September meeting suggested the committee was split on rate hikes for 2022, with nine members seeing no rate hikes by the end of next year while the other nine members saw at least one hike.\n\"I think the Fed has pretty well determined to start the taper pretty quickly. We expect them to announce it next week and then start it soon thereafter, so that's pretty well carved in stone,\" Kathy Jones, Charles Schwab chief fixed income strategist, told Yahoo Finance Live last week. \"I think the big debate now is how quickly the Fed moves toward actually raising rates. The expectation in the market has really shifted to expecting as many as two rate hikes in 2022 and 2023 ... that’s a pretty aggressive pace of tightening.\"\nOctober jobs report\nOne of this week's most closely watched pieces of economic data will be the October jobs report, which is due for release on Friday from the Labor Department.\nEconomists are looking to see a pick-up in the pace of hiring for October after a disappointing print in September, when just 194,000 non-farm payrolls returned versus the half million expected. Over the past two months, payroll gains averaged at just 280,000. The unemployment rate is expected to take another small step toward pre-pandemic levels in October as well, with the jobless rate anticipated to dip to 4.7% from 4.8% the prior month.\nStill, the labor market has still fallen short its pre-pandemic conditions on a number of fronts. The unemployment rate has yet to return to its 50-year low of 3.5% from February 2020. And as of September, the civilian labor force was still down by about 3.1 million individuals from pre-virus levels.\nOne factor weighing on the labor market in August and September was the Delta variant, which may have deterred some workers from seeking employment in person for risk of infection. And an ongoing element dragging on the labor market's recovery has been a mismatch of supply and demand, with employers struggling to fill a near-record number of job openings while voluntary quits jumped to a historically high level.\n\"Next week’s October payrolls report will shed light on whether supply eased on diminishing constraints or if the labor market continues to face headwinds for now,\" wrote Rubeela Farooqi, chief U.S. economist for High Frequency Economics, in a note last week.\nBut some data from the past couple weeks has reflected favorably on conditions in the labor market in October. Weekly new unemployment claims broke below 300,000 for the first time since the start of the pandemic during the survey week for the October jobs report, or the week that includes the 12th of the month. And in the Conference Board's October Consumer Confidence Index, just 10.6% of consumers said jobs were \"hard to get,\" down from 13.0% in September. That brought the Conference Board's closely watched labor market differential, or percentage of consumers saying jobs are \"hard to get\" subtracted from the percentage saying jobs \"are plentiful,\" to 45, or its highest level since 2000.\nEconomic calendar\n\nMonday: Markit U.S. Manufacturing PMI, Oct. final (59.3 expected, 59.2 in September); Constructing spending, month-over-month, September (0.4% expected, 0.0% in August); ISM Manufacturing Index, Oct. (60.5 expected, 61.1 in September)\nTuesday: No notable reports scheduled for release\nWednesday: MBA Mortgage Applications, week ended Oct. 29 (0.3% during prior week); ADP Employment Change, Oct. (400,000 expected, 568,000 in September); ISM Services Index, October (62.0 expected, 61.9 in September); Factory Orders, September (-0.1% expected, 1.2% in August); Durable goods orders, September final (-0.4% in prior print; Durable goods orders excluding transportation, September final (0.4% in prior print); Non-defense capital goods orders excluding aircraft, September final (0.8% in prior print); Markit U.S. Services PMI, October final (58.2 expected, 58.2 in prior print); Markit U.S. Composite PMI, October final (57.3 in prior print); Federal Open Market Committee monetary policy decision\nThursday: Challenger job cuts, year-over-year, October (-84.9% in September); Initial jobless claims, week ended Oct. 30 (275,000 expected, 281,000 during prior week); Continuing claims, week ended Oct. 23 (2.147 million expected, 2.243 million during prior week); Non-farm productivity, Q3 preliminary (-3.2% expected, 2.1% in Q2); Unit Labor Costs, Q3 preliminary (6.9% expected, 1.3% in Q2); Trade balance, September (-$80.1 billion expected, -$73.3 billion in August)\nFriday: Change in non-farm payrolls, October (450,000 expected, 194,000 in September); Unemployment rate, October (4.7% expected, 4.8% in September); Average hourly earnings, month-over-month, October (4.7% expected, 4.8% in September); Average hourly earnings, year-over-year, October (4.9% expected, 4.6% in September); Labor Force Participation Rate, October (61.8% expected, 61.6% in September); Consumer Credit, September ($16.200 billion expected, $14.379 million in August)\n\nEarnings calendar\n\nMonday: Clorox (CLX), Avis Budget Group (CAR), ZoomInfo Technologies (ZI), Chegg Inc. (CHGG), Diamondback Energy (FANG), The Simon Property Group (SPG) after market close\nTuesday: Under Armour (UAA), Estee Lauder (EL), Ralph Lauren (RL), Apollo Global Management (APO), Corsair Gaming (CRSR), Bloomin' Brands (BLMN), ConocoPhillips (COP), Pfizer (PFE), Groupon (GPN), Marathon Petroleum (MPC) before market open; Mondelez (MDLZ), T-Mobile (TMUS), Akamai (AKAM), Activision Blizzard (ATVI), Lyft (LYFT), Match Group (MTCH), Devon Energy (DVN), Chesapeake Energy (CHK), Coursera (COUR), Zillow Group (ZG), Amgen (AMGN) after market close\nWednesday: Humana (HUM), Discovery Inc. (DISCA), The New York Times (NYT), Norwegian Cruise Line Holdings (NCLH), Marriott International (MAR), CVS Health Corp. (CVS), Sinclair Broadcast Group (SBGI) before market open; Booking Holdings (BKNG), Qorvo (QRVO), The Allstate Corp. (ALL), MGM Resorts International (MGM), $Take-Two Interactive Software(TTWO)$ (TTWO), Electronic Arts (EA), Vimeo (VMEO), Etsy (ETSY), GoDaddy (GDDY), Marathon Oil Corp. (MRO), Roku (ROKU), Qualcomm (QCOM) after market close\nThursday: Cigna (CI), Wayfair (W), ViacomCBS (VIAC), Nikola (NKLA), Duke Energy (DUK), Citrix Systems (CTXS), Regeneron Pharmaceuticals (REGN), Hanesbrands (HBI), Moderna (MRNA), Planet Fitness (PLNT), Vulcan Material (VMC), Kellogg (K), Square (SQ), Cloudflare (NET), Occidental Petroleum (OXY), Uber Technologies (UBER), American International Group (AIG), Shake Shack (SHAK), iHeartMedia (IHRT), Novavax (NVAX), IAC Interactive Corp. (IAC), Peloton (PTON), Dropbox (DBX), DataDog (DDOG), Pinterest (PINS), Skyworks Solutions (SWKS), Expedia (EXPE), Rocket Cos. (RKT), Live Nation Entertainment (LYV), Airbnb (ABNB)\nFriday: Wynn Resorts (WYNN), Dish Networks (DISH), Dominion Energy (D), DraftKings (DKNG), Goodyear Tire and Rubber (GT), Cinemark Holdings (CNK) before market open","news_type":1,"symbols_score_info":{"EL":0.9,"PFE":0.9,"CLX":0.9,"COP":0.9,"BLMN":0.9,".DJI":0.9,"CRSR":0.9,"APO":0.9,".SPX":0.9,"UBER":0.9,".IXIC":0.9,"ATVI":0.9,"RL":0.9}},"isVote":1,"tweetType":1,"viewCount":4755,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":840486067,"gmtCreate":1635672206496,"gmtModify":1635674460647,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/840486067","repostId":"2179232902","repostType":4,"isVote":1,"tweetType":1,"viewCount":1705,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":852234603,"gmtCreate":1635270910553,"gmtModify":1635297408454,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/852234603","repostId":"1100809149","repostType":4,"repost":{"id":"1100809149","kind":"news","pubTimestamp":1635261612,"share":"https://www.laohu8.com/m/news/1100809149?lang=zh_CN&edition=full","pubTime":"2021-10-26 23:20","market":"us","language":"en","title":"Boeing Earnings: What to Look for from BA<blockquote>波音盈利：从英航身上寻找什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1100809149","media":"Investopedia","summary":"KEY TAKEAWAYS\n\nAnalysts estimate adjusted EPS of -$0.15 vs. -$1.39 in Q3 FY 2020.\nCommercial airplan","content":"<p>KEY TAKEAWAYS</p><p><blockquote>关键要点</blockquote></p><p> <ul>  <li>Analysts estimate adjusted EPS of -$0.15 vs. -$1.39 in Q3 FY 2020.</li>  <li>Commercial airplane deliveries are expected to increase sharply YOY.</li>  <li>Revenue is expected to rise for the second consecutive quarter after nine straight quarters of YOY declines.</li> </ul> Boeing Co. (BA) has seen a surge in demand for commercial aircraft amid the rebound in travel as passengers' concerns begin to ease about the COVID-19 pandemic. During the second quarter, the company made a profit after six straight quarters of losses as revenue rose sharply. Despite this, Boeing faces ongoing problems beyond the pandemic. The company's 787 Max jet has had continuing quality problems. And in mid-October, production and deliveries of the 787 Dreamliner were delayed after a new defect was detected in a titanium part.123</p><p><blockquote><ul><li>分析师预计2020财年第三季度调整后每股收益为-0.15美元，而调整后每股收益为-1.39美元。</li><li>商用飞机交付量预计将同比大幅增长。</li><li>在连续九个季度同比下降后，收入预计将连续第二个季度增长。</li></ul>随着乘客对COVID-19大流行的担忧开始缓解，随着旅行反弹，波音公司(BA)对商用飞机的需求激增。第二季度，随着收入大幅增长，该公司在连续六个季度亏损后实现盈利。尽管如此，波音公司仍面临着疫情以外的持续问题。该公司的787 Max喷气式飞机一直存在质量问题。10月中旬，787梦想飞机的生产和交付被推迟，因为在一个钛部件中发现了一个新的缺陷。</blockquote></p><p> Investors will look at how Boeing is overcoming these issues to ensure its continuing recovery when it reports earnings for Q3 FY 2021 before market open on Oct. 27.4In Q3, analysts expect Boeing to report a dramatic narrowing of adjusted losses per share compared to the same quarter a year earlier. Revenue is expected to show a healthy gain year-over-year (YOY), though slower than Q2 FY 2021.5</p><p><blockquote>当波音公司在10月27日开盘前公布2021财年第三季度收益时，投资者将关注波音公司如何克服这些问题以确保其持续复苏。4分析师预计波音公司第三季度调整后每股亏损将大幅收窄与去年同期相比。收入预计将同比(YOY)实现健康增长，但增速低于2021.5财年第二季度</blockquote></p><p> Investors will also focus on Boeing's commercial airplane deliveries, a key metric that measures the level of demand for one of the company's main products. Analysts estimate a sharp rise in deliveries compared to the year-ago quarter, though well below the company's recent peak quarters in FY 2017 and FY 2018.5</p><p><blockquote>投资者还将关注波音的商用飞机交付量，这是衡量该公司主要产品之一需求水平的关键指标。分析师预计，与去年同期相比，交付量将大幅上升，但远低于该公司最近2017财年和2018财年的峰值季度。5</blockquote></p><p> Boeing stock has been highly volatile, underperforming the broader market in the last year. In November 2020, the stock staged a massive rally through early December, then declined through late January 2021. At this point, Boeing stock climbed once again to a high point in March. Since then, shares have gradually slipped downward, with sporadic modest upticks along the way. Boeing shares have provided a 1-year trailing total return of 26.0%, behind the total return of 31.6% for the S&amp;P 500.</p><p><blockquote>波音股票波动很大，去年表现逊于大盘。2020年11月，该股在12月初大幅上涨，然后在2021年1月下旬下跌。至此，波音股价再次攀升至3月份高点。此后，股价逐渐下跌，并在此过程中出现零星小幅上涨。波音股票的1年追踪总回报率为26.0%，落后于标普500 31.6%的总回报率。</blockquote></p><p> Boeing Earnings History</p><p><blockquote>波音盈利历史</blockquote></p><p> Boeing has struggled to report positive adjusted earnings per share (EPS) for years. In the past 10 quarters, Boeing has reported only three periods of positive adjusted EPS, two of those prior to pandemic. The widest loss was in Q4 FY 2020, when Boeing reported and adjusted loss of $15.25 a share. Boeing's performance has improved considerably since then. Its loss narrowed sharply in Q1 FY 2021, followed by its first positive adjusted EPS in seven quarters in Q2 FY 2021. For Q3, analysts expect Boeing to report a loss of $0.15 per share, which would be the smallest reported loss in more than two years.5</p><p><blockquote>多年来，波音公司一直难以报告正的调整后每股收益（EPS）。在过去10个季度中，波音公司仅报告了三个时期的调整后每股收益为正，其中两个是在大流行之前。最大的亏损发生在2020财年第四季度，当时波音报告并调整后每股亏损15.25美元。此后，波音公司的业绩大幅改善。其亏损在2021财年第一季度大幅收窄，随后在2021财年第二季度实现了七个季度以来的首次正调整后每股收益。分析师预计波音第三季度每股亏损0.15美元，这将是两年多来报告的最小亏损。5</blockquote></p><p> Boeing's revenue performance has been equally poor. The company posted nine consecutive quarters of YOY revenue declines, from Q1 FY 2019 through Q1 FY 2021. Q2 FY 2021 was the first YOY improvement in revenue since FY 2018. Revenue jumped 44.0% for that quarter. Now, analysts expect another quarter of YOY revenue growth, but at a slower pace of 21.5%. Despite that progress, Boeing's estimated Q3 revenue would be only about two-thirds what it was in Q3 FY 2018.</p><p><blockquote>波音的营收表现同样不佳。从2019财年第一季度到2021财年第一季度，该公司收入连续九个季度同比下降。2021财年第二季度是自2018财年以来收入首次同比增长。该季度收入增长44.0%。现在，分析师预计收入将再增长一个季度，但增速将放缓至21.5%。尽管取得了这一进展，波音公司预计第三季度收入仅为2018财年第三季度的三分之二左右。</blockquote></p><p> Boeing Key Stats</p><p><blockquote>波音关键统计数据</blockquote></p><p> <table>  <tbody>   <tr>    <td></td>    <td>Estimate for Q3 FY 2021</td>    <td>Q3 FY 2020</td>    <td>Q3 FY 2019</td>   </tr>   <tr>    <td>Adjusted Earnings Per Share</td>    <td>-$0.15</td>    <td>-$1.39</td>    <td>$1.45</td>   </tr>   <tr>    <td>Revenue (B)</td>    <td>$17.2</td>    <td>$14.1</td>    <td>$20.0</td>   </tr>   <tr>    <td>Commercial Airplane Deliveries</td>    <td>96</td>    <td>28</td>    <td>62</td>   </tr>  </tbody> </table> The Key Metric</p><p><blockquote><table><tbody><tr><td></td><td>2021财年第三季度预估</td><td>2020财年第三季度</td><td>2019财年第三季度</td></tr><tr><td>调整后每股收益</td><td>-$0.15</td><td>-$1.39</td><td>$1.45</td></tr><tr><td>收入(B)</td><td>$17.2</td><td>$14.1</td><td>$20.0</td></tr><tr><td>商用飞机交付</td><td>96</td><td>28</td><td>62</td></tr></tbody></table>关键指标</blockquote></p><p> As mentioned above, Boeing's commercial airplane deliveries are also a key metric watched by investors. Boeing manufactures both commercial and military aircraft. Demand for the former type is much more sensitive to economic conditions whereas demand for the latter depends on government policy decisions regarding its military program. Commercial airplane deliveries have begun to rise amid rising travel demand as the threat from the pandemic has eased in the U.S. But production and deliveries have been slowed in recent years by the lengthy grounding of Boeing's 787 Max jets, and most recently, by parts defects in 787 Dreamliner.3</p><p><blockquote>如上所述，波音的商用飞机交付量也是投资者关注的一个关键指标。波音公司生产商用和军用飞机。对前一种类型的需求对经济状况更加敏感，而对后一种类型的需求取决于政府关于其军事计划的政策决定。随着美国疫情的威胁有所缓解，旅行需求不断上升，商用飞机交付量开始上升。但近年来，由于波音787 Max喷气式飞机长期停飞，以及最近787梦想飞机的零部件缺陷，生产和交付速度放缓。3</blockquote></p><p> These quality issues have hampered the speed with which Boeing's commercial airplane deliveries recovered from the pandemic. The company dropped to a low of just 20 commercial airplanes delivered in Q2 FY 2020, down 77.8% from Q2 FY 2019 and down nearly 90% from 194 commercial airplanes delivered in Q2 FY 2018. Since that low point, commercial airplane deliveries have improved each quarter sequentially, up to 79 deliveries for Q2 FY 2021. Analysts forecast that this trend will continue, with 96 commercial airplanes delivered for Q3 FY 2021. This would be more than triple the number of commercial aircraft delivered in the prior-year quarter.</p><p><blockquote>这些质量问题阻碍了波音商用飞机交付从疫情中恢复的速度。该公司在2020财年第二季度交付了20架商用飞机，比2019财年第二季度下降了77.8%，比2018财年第二季度交付的194架商用飞机下降了近90%。自那个低点以来，商用飞机交付量每个季度都在连续改善，2021财年第二季度交付量高达79架。分析师预测，这一趋势将持续下去，2021财年第三季度将交付96架商用飞机。这将是去年同期交付的商用飞机数量的三倍多。</blockquote></p><p> <table></table></p><p><blockquote><table></table></blockquote></p><p></p>","source":"lsy1606203311635","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>Boeing Earnings: What to Look for from BA<blockquote>波音盈利：从英航身上寻找什么</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBoeing Earnings: What to Look for from BA<blockquote>波音盈利：从英航身上寻找什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Investopedia</strong><span class=\"h-time small\">2021-10-26 23:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>KEY TAKEAWAYS</p><p><blockquote>关键要点</blockquote></p><p> <ul>  <li>Analysts estimate adjusted EPS of -$0.15 vs. -$1.39 in Q3 FY 2020.</li>  <li>Commercial airplane deliveries are expected to increase sharply YOY.</li>  <li>Revenue is expected to rise for the second consecutive quarter after nine straight quarters of YOY declines.</li> </ul> Boeing Co. (BA) has seen a surge in demand for commercial aircraft amid the rebound in travel as passengers' concerns begin to ease about the COVID-19 pandemic. During the second quarter, the company made a profit after six straight quarters of losses as revenue rose sharply. Despite this, Boeing faces ongoing problems beyond the pandemic. The company's 787 Max jet has had continuing quality problems. And in mid-October, production and deliveries of the 787 Dreamliner were delayed after a new defect was detected in a titanium part.123</p><p><blockquote><ul><li>分析师预计2020财年第三季度调整后每股收益为-0.15美元，而调整后每股收益为-1.39美元。</li><li>商用飞机交付量预计将同比大幅增长。</li><li>在连续九个季度同比下降后，收入预计将连续第二个季度增长。</li></ul>随着乘客对COVID-19大流行的担忧开始缓解，随着旅行反弹，波音公司(BA)对商用飞机的需求激增。第二季度，随着收入大幅增长，该公司在连续六个季度亏损后实现盈利。尽管如此，波音公司仍面临着疫情以外的持续问题。该公司的787 Max喷气式飞机一直存在质量问题。10月中旬，787梦想飞机的生产和交付被推迟，因为在一个钛部件中发现了一个新的缺陷。</blockquote></p><p> Investors will look at how Boeing is overcoming these issues to ensure its continuing recovery when it reports earnings for Q3 FY 2021 before market open on Oct. 27.4In Q3, analysts expect Boeing to report a dramatic narrowing of adjusted losses per share compared to the same quarter a year earlier. Revenue is expected to show a healthy gain year-over-year (YOY), though slower than Q2 FY 2021.5</p><p><blockquote>当波音公司在10月27日开盘前公布2021财年第三季度收益时，投资者将关注波音公司如何克服这些问题以确保其持续复苏。4分析师预计波音公司第三季度调整后每股亏损将大幅收窄与去年同期相比。收入预计将同比(YOY)实现健康增长，但增速低于2021.5财年第二季度</blockquote></p><p> Investors will also focus on Boeing's commercial airplane deliveries, a key metric that measures the level of demand for one of the company's main products. Analysts estimate a sharp rise in deliveries compared to the year-ago quarter, though well below the company's recent peak quarters in FY 2017 and FY 2018.5</p><p><blockquote>投资者还将关注波音的商用飞机交付量，这是衡量该公司主要产品之一需求水平的关键指标。分析师预计，与去年同期相比，交付量将大幅上升，但远低于该公司最近2017财年和2018财年的峰值季度。5</blockquote></p><p> Boeing stock has been highly volatile, underperforming the broader market in the last year. In November 2020, the stock staged a massive rally through early December, then declined through late January 2021. At this point, Boeing stock climbed once again to a high point in March. Since then, shares have gradually slipped downward, with sporadic modest upticks along the way. Boeing shares have provided a 1-year trailing total return of 26.0%, behind the total return of 31.6% for the S&amp;P 500.</p><p><blockquote>波音股票波动很大，去年表现逊于大盘。2020年11月，该股在12月初大幅上涨，然后在2021年1月下旬下跌。至此，波音股价再次攀升至3月份高点。此后，股价逐渐下跌，并在此过程中出现零星小幅上涨。波音股票的1年追踪总回报率为26.0%，落后于标普500 31.6%的总回报率。</blockquote></p><p> Boeing Earnings History</p><p><blockquote>波音盈利历史</blockquote></p><p> Boeing has struggled to report positive adjusted earnings per share (EPS) for years. In the past 10 quarters, Boeing has reported only three periods of positive adjusted EPS, two of those prior to pandemic. The widest loss was in Q4 FY 2020, when Boeing reported and adjusted loss of $15.25 a share. Boeing's performance has improved considerably since then. Its loss narrowed sharply in Q1 FY 2021, followed by its first positive adjusted EPS in seven quarters in Q2 FY 2021. For Q3, analysts expect Boeing to report a loss of $0.15 per share, which would be the smallest reported loss in more than two years.5</p><p><blockquote>多年来，波音公司一直难以报告正的调整后每股收益（EPS）。在过去10个季度中，波音公司仅报告了三个时期的调整后每股收益为正，其中两个是在大流行之前。最大的亏损发生在2020财年第四季度，当时波音报告并调整后每股亏损15.25美元。此后，波音公司的业绩大幅改善。其亏损在2021财年第一季度大幅收窄，随后在2021财年第二季度实现了七个季度以来的首次正调整后每股收益。分析师预计波音第三季度每股亏损0.15美元，这将是两年多来报告的最小亏损。5</blockquote></p><p> Boeing's revenue performance has been equally poor. The company posted nine consecutive quarters of YOY revenue declines, from Q1 FY 2019 through Q1 FY 2021. Q2 FY 2021 was the first YOY improvement in revenue since FY 2018. Revenue jumped 44.0% for that quarter. Now, analysts expect another quarter of YOY revenue growth, but at a slower pace of 21.5%. Despite that progress, Boeing's estimated Q3 revenue would be only about two-thirds what it was in Q3 FY 2018.</p><p><blockquote>波音的营收表现同样不佳。从2019财年第一季度到2021财年第一季度，该公司收入连续九个季度同比下降。2021财年第二季度是自2018财年以来收入首次同比增长。该季度收入增长44.0%。现在，分析师预计收入将再增长一个季度，但增速将放缓至21.5%。尽管取得了这一进展，波音公司预计第三季度收入仅为2018财年第三季度的三分之二左右。</blockquote></p><p> Boeing Key Stats</p><p><blockquote>波音关键统计数据</blockquote></p><p> <table>  <tbody>   <tr>    <td></td>    <td>Estimate for Q3 FY 2021</td>    <td>Q3 FY 2020</td>    <td>Q3 FY 2019</td>   </tr>   <tr>    <td>Adjusted Earnings Per Share</td>    <td>-$0.15</td>    <td>-$1.39</td>    <td>$1.45</td>   </tr>   <tr>    <td>Revenue (B)</td>    <td>$17.2</td>    <td>$14.1</td>    <td>$20.0</td>   </tr>   <tr>    <td>Commercial Airplane Deliveries</td>    <td>96</td>    <td>28</td>    <td>62</td>   </tr>  </tbody> </table> The Key Metric</p><p><blockquote><table><tbody><tr><td></td><td>2021财年第三季度预估</td><td>2020财年第三季度</td><td>2019财年第三季度</td></tr><tr><td>调整后每股收益</td><td>-$0.15</td><td>-$1.39</td><td>$1.45</td></tr><tr><td>收入(B)</td><td>$17.2</td><td>$14.1</td><td>$20.0</td></tr><tr><td>商用飞机交付</td><td>96</td><td>28</td><td>62</td></tr></tbody></table>关键指标</blockquote></p><p> As mentioned above, Boeing's commercial airplane deliveries are also a key metric watched by investors. Boeing manufactures both commercial and military aircraft. Demand for the former type is much more sensitive to economic conditions whereas demand for the latter depends on government policy decisions regarding its military program. Commercial airplane deliveries have begun to rise amid rising travel demand as the threat from the pandemic has eased in the U.S. But production and deliveries have been slowed in recent years by the lengthy grounding of Boeing's 787 Max jets, and most recently, by parts defects in 787 Dreamliner.3</p><p><blockquote>如上所述，波音的商用飞机交付量也是投资者关注的一个关键指标。波音公司生产商用和军用飞机。对前一种类型的需求对经济状况更加敏感，而对后一种类型的需求取决于政府关于其军事计划的政策决定。随着美国疫情的威胁有所缓解，旅行需求不断上升，商用飞机交付量开始上升。但近年来，由于波音787 Max喷气式飞机长期停飞，以及最近787梦想飞机的零部件缺陷，生产和交付速度放缓。3</blockquote></p><p> These quality issues have hampered the speed with which Boeing's commercial airplane deliveries recovered from the pandemic. The company dropped to a low of just 20 commercial airplanes delivered in Q2 FY 2020, down 77.8% from Q2 FY 2019 and down nearly 90% from 194 commercial airplanes delivered in Q2 FY 2018. Since that low point, commercial airplane deliveries have improved each quarter sequentially, up to 79 deliveries for Q2 FY 2021. Analysts forecast that this trend will continue, with 96 commercial airplanes delivered for Q3 FY 2021. This would be more than triple the number of commercial aircraft delivered in the prior-year quarter.</p><p><blockquote>这些质量问题阻碍了波音商用飞机交付从疫情中恢复的速度。该公司在2020财年第二季度交付了20架商用飞机，比2019财年第二季度下降了77.8%，比2018财年第二季度交付的194架商用飞机下降了近90%。自那个低点以来，商用飞机交付量每个季度都在连续改善，2021财年第二季度交付量高达79架。分析师预测，这一趋势将持续下去，2021财年第三季度将交付96架商用飞机。这将是去年同期交付的商用飞机数量的三倍多。</blockquote></p><p> <table></table></p><p><blockquote><table></table></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investopedia.com/boeing-q3-fy2021-earnings-report-preview-5207000?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral\">Investopedia</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":{"BA":"波音"},"source_url":"https://www.investopedia.com/boeing-q3-fy2021-earnings-report-preview-5207000?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100809149","content_text":"KEY TAKEAWAYS\n\nAnalysts estimate adjusted EPS of -$0.15 vs. -$1.39 in Q3 FY 2020.\nCommercial airplane deliveries are expected to increase sharply YOY.\nRevenue is expected to rise for the second consecutive quarter after nine straight quarters of YOY declines.\n\nBoeing Co. (BA) has seen a surge in demand for commercial aircraft amid the rebound in travel as passengers' concerns begin to ease about the COVID-19 pandemic. During the second quarter, the company made a profit after six straight quarters of losses as revenue rose sharply. Despite this, Boeing faces ongoing problems beyond the pandemic. The company's 787 Max jet has had continuing quality problems. And in mid-October, production and deliveries of the 787 Dreamliner were delayed after a new defect was detected in a titanium part.123\nInvestors will look at how Boeing is overcoming these issues to ensure its continuing recovery when it reports earnings for Q3 FY 2021 before market open on Oct. 27.4In Q3, analysts expect Boeing to report a dramatic narrowing of adjusted losses per share compared to the same quarter a year earlier. Revenue is expected to show a healthy gain year-over-year (YOY), though slower than Q2 FY 2021.5\nInvestors will also focus on Boeing's commercial airplane deliveries, a key metric that measures the level of demand for one of the company's main products. Analysts estimate a sharp rise in deliveries compared to the year-ago quarter, though well below the company's recent peak quarters in FY 2017 and FY 2018.5\nBoeing stock has been highly volatile, underperforming the broader market in the last year. In November 2020, the stock staged a massive rally through early December, then declined through late January 2021. At this point, Boeing stock climbed once again to a high point in March. Since then, shares have gradually slipped downward, with sporadic modest upticks along the way. Boeing shares have provided a 1-year trailing total return of 26.0%, behind the total return of 31.6% for the S&P 500.\nBoeing Earnings History\nBoeing has struggled to report positive adjusted earnings per share (EPS) for years. In the past 10 quarters, Boeing has reported only three periods of positive adjusted EPS, two of those prior to pandemic. The widest loss was in Q4 FY 2020, when Boeing reported and adjusted loss of $15.25 a share. Boeing's performance has improved considerably since then. Its loss narrowed sharply in Q1 FY 2021, followed by its first positive adjusted EPS in seven quarters in Q2 FY 2021. For Q3, analysts expect Boeing to report a loss of $0.15 per share, which would be the smallest reported loss in more than two years.5\nBoeing's revenue performance has been equally poor. The company posted nine consecutive quarters of YOY revenue declines, from Q1 FY 2019 through Q1 FY 2021. Q2 FY 2021 was the first YOY improvement in revenue since FY 2018. Revenue jumped 44.0% for that quarter. Now, analysts expect another quarter of YOY revenue growth, but at a slower pace of 21.5%. Despite that progress, Boeing's estimated Q3 revenue would be only about two-thirds what it was in Q3 FY 2018.\nBoeing Key Stats\n\n\n\n\nEstimate for Q3 FY 2021\nQ3 FY 2020\nQ3 FY 2019\n\n\nAdjusted Earnings Per Share\n-$0.15\n-$1.39\n$1.45\n\n\nRevenue (B)\n$17.2\n$14.1\n$20.0\n\n\nCommercial Airplane Deliveries\n96\n28\n62\n\n\n\nThe Key Metric\nAs mentioned above, Boeing's commercial airplane deliveries are also a key metric watched by investors. Boeing manufactures both commercial and military aircraft. Demand for the former type is much more sensitive to economic conditions whereas demand for the latter depends on government policy decisions regarding its military program. Commercial airplane deliveries have begun to rise amid rising travel demand as the threat from the pandemic has eased in the U.S. But production and deliveries have been slowed in recent years by the lengthy grounding of Boeing's 787 Max jets, and most recently, by parts defects in 787 Dreamliner.3\nThese quality issues have hampered the speed with which Boeing's commercial airplane deliveries recovered from the pandemic. The company dropped to a low of just 20 commercial airplanes delivered in Q2 FY 2020, down 77.8% from Q2 FY 2019 and down nearly 90% from 194 commercial airplanes delivered in Q2 FY 2018. Since that low point, commercial airplane deliveries have improved each quarter sequentially, up to 79 deliveries for Q2 FY 2021. Analysts forecast that this trend will continue, with 96 commercial airplanes delivered for Q3 FY 2021. This would be more than triple the number of commercial aircraft delivered in the prior-year quarter.","news_type":1,"symbols_score_info":{"BA":0.9}},"isVote":1,"tweetType":1,"viewCount":1910,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":856708153,"gmtCreate":1635210828316,"gmtModify":1635214371362,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/856708153","repostId":"1182426097","repostType":4,"isVote":1,"tweetType":1,"viewCount":1676,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":859410846,"gmtCreate":1634720594862,"gmtModify":1634720953591,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/859410846","repostId":"1134152618","repostType":4,"repost":{"id":"1134152618","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":1634719942,"share":"https://www.laohu8.com/m/news/1134152618?lang=zh_CN&edition=full","pubTime":"2021-10-20 16:52","market":"us","language":"en","title":"Netflix fell nearly 2% in premarket trading as it showed the lowest growth rate in 16 quarters<blockquote>Netflix盘前交易下跌近2%，增速创16个季度以来最低</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1134152618","media":"Tiger Newspress","summary":"Netflix fell nearly 2% in premarket trading as it showed the lowest growth rate in 16 quarters. \nThe","content":"<p>Netflix fell nearly 2% in premarket trading as it showed the lowest growth rate in 16 quarters.&nbsp;<img src=\"https://static.tigerbbs.com/861a4a64bdb5e42d1219f39753b69744\" tg-width=\"774\" tg-height=\"372\" referrerpolicy=\"no-referrer\"></p><p><blockquote>Netflix盘前交易中下跌近2%，因其增长率为16个季度以来的最低水平。</blockquote></p><p> The financial report showed that Netflix's revenue in the third quarter was 7.48 billion US dollars, which was consistent with market expectations and increased by 16.3% year-on-year, the lowest growth rate in 16 quarters; The net profit was USD 1.449 billion, exceeding the market expectation of USD 1.16 billion and increasing by 83.42% year-on-year.</p><p><blockquote>财报显示，奈飞第三季度营收74.8亿美元，符合市场预期，同比增长16.3%，为16个季度以来最低增速；净利润14.49亿美元，超出市场预期的11.6亿美元，同比增长83.42%。</blockquote></p><p> In the third quarter of 2021, the number of new paid subscribers of Netflix Global Streaming Media was 4.38 million, which doubled year-on-year, and the market is expected to increase by 3.72 million.</p><p><blockquote>2021年第三季度，奈飞全球流媒体新增付费订阅用户438万，同比增长翻倍，预计市场将增加372万。</blockquote></p><p> The company has 213.56 million paid streaming users worldwide. Four weeks before the launch of Squid Game, a Korean homemade drama produced by Netflix, 142 million member families watched it worldwide.</p><p><blockquote>该公司在全球拥有2.1356亿付费流媒体用户。Netflix制作的韩国自制剧《鱿鱼游戏》开播前四周，全球有1.42亿会员家庭观看。</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>Netflix fell nearly 2% in premarket trading as it showed the lowest growth rate in 16 quarters<blockquote>Netflix盘前交易下跌近2%，增速创16个季度以来最低</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\">\nNetflix fell nearly 2% in premarket trading as it showed the lowest growth rate in 16 quarters<blockquote>Netflix盘前交易下跌近2%，增速创16个季度以来最低</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\">2021-10-20 16:52</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Netflix fell nearly 2% in premarket trading as it showed the lowest growth rate in 16 quarters.&nbsp;<img src=\"https://static.tigerbbs.com/861a4a64bdb5e42d1219f39753b69744\" tg-width=\"774\" tg-height=\"372\" referrerpolicy=\"no-referrer\"></p><p><blockquote>Netflix盘前交易中下跌近2%，因其增长率为16个季度以来的最低水平。</blockquote></p><p> The financial report showed that Netflix's revenue in the third quarter was 7.48 billion US dollars, which was consistent with market expectations and increased by 16.3% year-on-year, the lowest growth rate in 16 quarters; The net profit was USD 1.449 billion, exceeding the market expectation of USD 1.16 billion and increasing by 83.42% year-on-year.</p><p><blockquote>财报显示，奈飞第三季度营收74.8亿美元，符合市场预期，同比增长16.3%，为16个季度以来最低增速；净利润14.49亿美元，超出市场预期的11.6亿美元，同比增长83.42%。</blockquote></p><p> In the third quarter of 2021, the number of new paid subscribers of Netflix Global Streaming Media was 4.38 million, which doubled year-on-year, and the market is expected to increase by 3.72 million.</p><p><blockquote>2021年第三季度，奈飞全球流媒体新增付费订阅用户438万，同比增长翻倍，预计市场将增加372万。</blockquote></p><p> The company has 213.56 million paid streaming users worldwide. Four weeks before the launch of Squid Game, a Korean homemade drama produced by Netflix, 142 million member families watched it worldwide.</p><p><blockquote>该公司在全球拥有2.1356亿付费流媒体用户。Netflix制作的韩国自制剧《鱿鱼游戏》开播前四周，全球有1.42亿会员家庭观看。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NFLX":"奈飞"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134152618","content_text":"Netflix fell nearly 2% in premarket trading as it showed the lowest growth rate in 16 quarters. \nThe financial report showed that Netflix's revenue in the third quarter was 7.48 billion US dollars, which was consistent with market expectations and increased by 16.3% year-on-year, the lowest growth rate in 16 quarters; The net profit was USD 1.449 billion, exceeding the market expectation of USD 1.16 billion and increasing by 83.42% year-on-year.\nIn the third quarter of 2021, the number of new paid subscribers of Netflix Global Streaming Media was 4.38 million, which doubled year-on-year, and the market is expected to increase by 3.72 million.\nThe company has 213.56 million paid streaming users worldwide. Four weeks before the launch of Squid Game, a Korean homemade drama produced by Netflix, 142 million member families watched it worldwide.","news_type":1,"symbols_score_info":{"NFLX":0.9}},"isVote":1,"tweetType":1,"viewCount":1254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":859410164,"gmtCreate":1634720584379,"gmtModify":1634720952140,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/859410164","repostId":"1189702769","repostType":4,"isVote":1,"tweetType":1,"viewCount":948,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":826847687,"gmtCreate":1634007059892,"gmtModify":1634007423566,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/826847687","repostId":"2174854361","repostType":4,"isVote":1,"tweetType":1,"viewCount":546,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":828147701,"gmtCreate":1633875502042,"gmtModify":1633914463684,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/828147701","repostId":"2174920514","repostType":4,"isVote":1,"tweetType":1,"viewCount":402,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":828367056,"gmtCreate":1633847140114,"gmtModify":1633849221861,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/828367056","repostId":"2174920514","repostType":4,"isVote":1,"tweetType":1,"viewCount":565,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":821404714,"gmtCreate":1633768055919,"gmtModify":1633770901094,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/821404714","repostId":"2174920514","repostType":4,"isVote":1,"tweetType":1,"viewCount":465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":823169368,"gmtCreate":1633600597256,"gmtModify":1633602164592,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/823169368","repostId":"1152020493","repostType":4,"isVote":1,"tweetType":1,"viewCount":484,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":829008223,"gmtCreate":1633440810642,"gmtModify":1633443676127,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/829008223","repostId":"1140243685","repostType":4,"repost":{"id":"1140243685","kind":"news","pubTimestamp":1633440012,"share":"https://www.laohu8.com/m/news/1140243685?lang=zh_CN&edition=full","pubTime":"2021-10-05 21:20","market":"us","language":"en","title":"This veteran analyst hears echoes of the 1929 crash in today’s stock market<blockquote>这位资深分析师在今天的股市中听到了1929年崩盘的回声</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1140243685","media":"Marketwatch","summary":"There are some signs of a recovery attempt following Monday’s wipeout, chiefly for techs. The Nasdaq","content":"<p>There are some signs of a recovery attempt following Monday’s wipeout, chiefly for techs. The Nasdaq CompositeCOMPisteetering toward correction territory&nbsp;and the S&amp;P 500SPXand Dow industrialsDJIAare halfway there. With jobs data looming for Friday, even the bravest dip buyers may have second thoughts.</p><p><blockquote>在周一的暴跌之后，有一些复苏的迹象，主要是科技股。纳斯达克综合指数正在走向调整区域，标准普尔500SPX和道琼斯工业平均指数已经走到了一半。随着周五就业数据的临近，即使是最勇敢的逢低买入者也可能会改变主意。</blockquote></p><p> Don’t look for reassurance in our&nbsp;<b>call of the day</b>, where the founder and CEO ofBullAndBearProfits.com, Jon Wolfenbarger, predicts U.S. stocks may be “on the verge of starting the biggest bear market since the Great Depression.”</p><p><blockquote>不要在我们的<b>今日看涨期权</b>BullandBearProfits.com创始人兼首席执行官乔恩·沃尔芬伯格(Jon Wolfenbarger)预测，美国股市可能“即将开启自大萧条以来最大的熊市”。</blockquote></p><p> “Now with the Fed talking about tapering and money supply growth slowing&nbsp;significantly from 39% y/y in February to only 8% y/y in August, perhaps that is&nbsp;enough of a ‘tight monetary policy’ to change investor psychology to a more&nbsp;bearish mood? We will see,” he said in a Monday interview and follow-up comments with MarketWatch.</p><p><blockquote>“现在，随着美联储谈论缩减购债规模，货币供应增长从2月份的同比39%大幅放缓至8月份的同比仅8%，也许‘紧缩货币政策’足以将投资者心理转变为更悲观的情绪？我们拭目以待，”他在周一接受MarketWatch采访和后续评论时表示。</blockquote></p><p> Wolfenbarger, who spent 22 years as an equity analyst at Allianz Global Investors, said while he’s not a permabear — his newsletter offers strategies for profiting when markets go both ways — investors should heed some warnings signs.</p><p><blockquote>Wolfenbarger在Allianz Global Investors担任了22年的股票分析师，他表示，虽然他不是永久看跌者——他的时事通讯提供了在市场双向波动时获利的策略——但投资者应该注意一些警告信号。</blockquote></p><p> Overbullish sentiment, economic weakness, excessive debt levels and limited policy tools are key ingredients for a market rout worse than that seen in 2008-09, he said, adding that a top for the S&amp;P 500 reached a few weeks ago could have been the start.</p><p><blockquote>他表示，过度看涨情绪、经济疲软、债务水平过高和政策工具有限是导致市场暴跌比2008-09年更严重的关键因素，并补充说，几周前达到的标普500顶部可能是开始。</blockquote></p><p> One chart he’s watching that&nbsp;predicts future long-term stock returns— a favorite of legendary investor Warren Buffett, the chairman and CEO of Berkshire HathawayBRKBRK— shows equities 30% above the prior all-time high seen in the tech bubble peak of 2000.</p><p><blockquote>他正在观看的一张预测未来长期股票回报的图表（伯克希尔哈撒韦公司董事长兼首席执行官、传奇投资者沃伦·巴菲特的最爱）显示，股市比2000年科技泡沫高峰时的历史高点高出30%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e73964c10e0be9d02489e2764a98be5\" tg-width=\"700\" tg-height=\"297\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Wolfenbarger is watching S&amp;P 500 moving averages closely. If the 250-day, currently at 4,020, were to “really break through” that could trip a major drop for stock. His below chart shows the S&amp;P 500 price (black line) with its 250-dma since 1980. The red circles indicate when it fell below the 250-dma and the 250-dma slope was falling.</p><p><blockquote>沃尔芬伯格正在密切关注标普500移动平均线。如果250日线（目前为4,020点）“真正突破”，可能会导致股价大幅下跌。他的下图显示了标普500价格（黑线）自1980年以来的250日均线。红色圆圈表示何时跌破250-dma并且250-dma斜率正在下降。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f31fb05ef85111232a3410a405e05f72\" tg-width=\"700\" tg-height=\"316\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> As for what investors should do — Wolfenbarger advised using exchange-traded funds that actually go up in bear markets, which could be the iShares 20+ Year Treasury Bond ETFTLTor SPDR Gold SharesGLD,&nbsp;though he prefers inverse ETFs such as ProShares UltraShort S&amp;P 500SDSand the ProShares Short S&amp;P 500SH.</p><p><blockquote>至于投资者应该做什么——Wolfenbarger建议使用在熊市中实际上涨的交易所交易基金，这可能是iShares 20+年期国债ETFTLTor SPDR Gold SharesGLD，尽管他更喜欢ProShares UltraShort S&amp;P 500SDS和ProShares Short S&amp;P 500SH。</blockquote></p><p> “I personally think it’s easier for most people to just buy an inverse ETF because it moves the same way as a normal stock and ETF, and the SH went up 89% in the last bear market,” he said, adding that SDS went up 184%.</p><p><blockquote>“我个人认为，对于大多数人来说，购买反向ETF更容易，因为它的走势与普通股票和ETF相同，而且SH在上一次熊市中上涨了89%，”他说，并补充说SDS上涨了184%。</blockquote></p><p> Wolfenbarger said he has honed his strategies after adhering for years to Buffett’s advice of just&nbsp;buying and holding an S&amp;P 500 index fund.</p><p><blockquote>Wolfenbarger表示，多年来一直坚持巴菲特的建议，即只购买并持有标普500指数基金，他已经磨练了自己的策略。</blockquote></p><p> “But then I started looking at history and you know it took 25 years for the market to get back to the 1929 peak, and I don’t have 25 years,” said Wolfenbarger, who is in his early 50s. “Any given investment can go down 50% to 90% and it can stay down for decades, at least 10 to 20 years.”</p><p><blockquote>“但后来我开始回顾历史，你知道市场花了25年时间才回到1929年的峰值，而我没有25年的时间，”50岁出头的沃尔芬伯格说。“任何给定的投资都可能下降50%到90%，并且可以持续数十年，至少10到20年。”</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This veteran analyst hears echoes of the 1929 crash in today’s stock market<blockquote>这位资深分析师在今天的股市中听到了1929年崩盘的回声</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\">\nThis veteran analyst hears echoes of the 1929 crash in today’s stock market<blockquote>这位资深分析师在今天的股市中听到了1929年崩盘的回声</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Marketwatch</strong><span class=\"h-time small\">2021-10-05 21:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>There are some signs of a recovery attempt following Monday’s wipeout, chiefly for techs. The Nasdaq CompositeCOMPisteetering toward correction territory&nbsp;and the S&amp;P 500SPXand Dow industrialsDJIAare halfway there. With jobs data looming for Friday, even the bravest dip buyers may have second thoughts.</p><p><blockquote>在周一的暴跌之后，有一些复苏的迹象，主要是科技股。纳斯达克综合指数正在走向调整区域，标准普尔500SPX和道琼斯工业平均指数已经走到了一半。随着周五就业数据的临近，即使是最勇敢的逢低买入者也可能会改变主意。</blockquote></p><p> Don’t look for reassurance in our&nbsp;<b>call of the day</b>, where the founder and CEO ofBullAndBearProfits.com, Jon Wolfenbarger, predicts U.S. stocks may be “on the verge of starting the biggest bear market since the Great Depression.”</p><p><blockquote>不要在我们的<b>今日看涨期权</b>BullandBearProfits.com创始人兼首席执行官乔恩·沃尔芬伯格(Jon Wolfenbarger)预测，美国股市可能“即将开启自大萧条以来最大的熊市”。</blockquote></p><p> “Now with the Fed talking about tapering and money supply growth slowing&nbsp;significantly from 39% y/y in February to only 8% y/y in August, perhaps that is&nbsp;enough of a ‘tight monetary policy’ to change investor psychology to a more&nbsp;bearish mood? We will see,” he said in a Monday interview and follow-up comments with MarketWatch.</p><p><blockquote>“现在，随着美联储谈论缩减购债规模，货币供应增长从2月份的同比39%大幅放缓至8月份的同比仅8%，也许‘紧缩货币政策’足以将投资者心理转变为更悲观的情绪？我们拭目以待，”他在周一接受MarketWatch采访和后续评论时表示。</blockquote></p><p> Wolfenbarger, who spent 22 years as an equity analyst at Allianz Global Investors, said while he’s not a permabear — his newsletter offers strategies for profiting when markets go both ways — investors should heed some warnings signs.</p><p><blockquote>Wolfenbarger在Allianz Global Investors担任了22年的股票分析师，他表示，虽然他不是永久看跌者——他的时事通讯提供了在市场双向波动时获利的策略——但投资者应该注意一些警告信号。</blockquote></p><p> Overbullish sentiment, economic weakness, excessive debt levels and limited policy tools are key ingredients for a market rout worse than that seen in 2008-09, he said, adding that a top for the S&amp;P 500 reached a few weeks ago could have been the start.</p><p><blockquote>他表示，过度看涨情绪、经济疲软、债务水平过高和政策工具有限是导致市场暴跌比2008-09年更严重的关键因素，并补充说，几周前达到的标普500顶部可能是开始。</blockquote></p><p> One chart he’s watching that&nbsp;predicts future long-term stock returns— a favorite of legendary investor Warren Buffett, the chairman and CEO of Berkshire HathawayBRKBRK— shows equities 30% above the prior all-time high seen in the tech bubble peak of 2000.</p><p><blockquote>他正在观看的一张预测未来长期股票回报的图表（伯克希尔哈撒韦公司董事长兼首席执行官、传奇投资者沃伦·巴菲特的最爱）显示，股市比2000年科技泡沫高峰时的历史高点高出30%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e73964c10e0be9d02489e2764a98be5\" tg-width=\"700\" tg-height=\"297\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Wolfenbarger is watching S&amp;P 500 moving averages closely. If the 250-day, currently at 4,020, were to “really break through” that could trip a major drop for stock. His below chart shows the S&amp;P 500 price (black line) with its 250-dma since 1980. The red circles indicate when it fell below the 250-dma and the 250-dma slope was falling.</p><p><blockquote>沃尔芬伯格正在密切关注标普500移动平均线。如果250日线（目前为4,020点）“真正突破”，可能会导致股价大幅下跌。他的下图显示了标普500价格（黑线）自1980年以来的250日均线。红色圆圈表示何时跌破250-dma并且250-dma斜率正在下降。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f31fb05ef85111232a3410a405e05f72\" tg-width=\"700\" tg-height=\"316\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> As for what investors should do — Wolfenbarger advised using exchange-traded funds that actually go up in bear markets, which could be the iShares 20+ Year Treasury Bond ETFTLTor SPDR Gold SharesGLD,&nbsp;though he prefers inverse ETFs such as ProShares UltraShort S&amp;P 500SDSand the ProShares Short S&amp;P 500SH.</p><p><blockquote>至于投资者应该做什么——Wolfenbarger建议使用在熊市中实际上涨的交易所交易基金，这可能是iShares 20+年期国债ETFTLTor SPDR Gold SharesGLD，尽管他更喜欢ProShares UltraShort S&amp;P 500SDS和ProShares Short S&amp;P 500SH。</blockquote></p><p> “I personally think it’s easier for most people to just buy an inverse ETF because it moves the same way as a normal stock and ETF, and the SH went up 89% in the last bear market,” he said, adding that SDS went up 184%.</p><p><blockquote>“我个人认为，对于大多数人来说，购买反向ETF更容易，因为它的走势与普通股票和ETF相同，而且SH在上一次熊市中上涨了89%，”他说，并补充说SDS上涨了184%。</blockquote></p><p> Wolfenbarger said he has honed his strategies after adhering for years to Buffett’s advice of just&nbsp;buying and holding an S&amp;P 500 index fund.</p><p><blockquote>Wolfenbarger表示，多年来一直坚持巴菲特的建议，即只购买并持有标普500指数基金，他已经磨练了自己的策略。</blockquote></p><p> “But then I started looking at history and you know it took 25 years for the market to get back to the 1929 peak, and I don’t have 25 years,” said Wolfenbarger, who is in his early 50s. “Any given investment can go down 50% to 90% and it can stay down for decades, at least 10 to 20 years.”</p><p><blockquote>“但后来我开始回顾历史，你知道市场花了25年时间才回到1929年的峰值，而我没有25年的时间，”50岁出头的沃尔芬伯格说。“任何给定的投资都可能下降50%到90%，并且可以持续数十年，至少10到20年。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/why-this-veteran-analyst-sees-stocks-headed-for-the-biggest-bear-market-since-the-great-depression-11633432477?siteid=yhoof2\">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":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/why-this-veteran-analyst-sees-stocks-headed-for-the-biggest-bear-market-since-the-great-depression-11633432477?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1140243685","content_text":"There are some signs of a recovery attempt following Monday’s wipeout, chiefly for techs. The Nasdaq CompositeCOMPisteetering toward correction territory and the S&P 500SPXand Dow industrialsDJIAare halfway there. With jobs data looming for Friday, even the bravest dip buyers may have second thoughts.\nDon’t look for reassurance in our call of the day, where the founder and CEO ofBullAndBearProfits.com, Jon Wolfenbarger, predicts U.S. stocks may be “on the verge of starting the biggest bear market since the Great Depression.”\n“Now with the Fed talking about tapering and money supply growth slowing significantly from 39% y/y in February to only 8% y/y in August, perhaps that is enough of a ‘tight monetary policy’ to change investor psychology to a more bearish mood? We will see,” he said in a Monday interview and follow-up comments with MarketWatch.\nWolfenbarger, who spent 22 years as an equity analyst at Allianz Global Investors, said while he’s not a permabear — his newsletter offers strategies for profiting when markets go both ways — investors should heed some warnings signs.\nOverbullish sentiment, economic weakness, excessive debt levels and limited policy tools are key ingredients for a market rout worse than that seen in 2008-09, he said, adding that a top for the S&P 500 reached a few weeks ago could have been the start.\nOne chart he’s watching that predicts future long-term stock returns— a favorite of legendary investor Warren Buffett, the chairman and CEO of Berkshire HathawayBRKBRK— shows equities 30% above the prior all-time high seen in the tech bubble peak of 2000.\n\nWolfenbarger is watching S&P 500 moving averages closely. If the 250-day, currently at 4,020, were to “really break through” that could trip a major drop for stock. His below chart shows the S&P 500 price (black line) with its 250-dma since 1980. The red circles indicate when it fell below the 250-dma and the 250-dma slope was falling.\n\nAs for what investors should do — Wolfenbarger advised using exchange-traded funds that actually go up in bear markets, which could be the iShares 20+ Year Treasury Bond ETFTLTor SPDR Gold SharesGLD, though he prefers inverse ETFs such as ProShares UltraShort S&P 500SDSand the ProShares Short S&P 500SH.\n“I personally think it’s easier for most people to just buy an inverse ETF because it moves the same way as a normal stock and ETF, and the SH went up 89% in the last bear market,” he said, adding that SDS went up 184%.\nWolfenbarger said he has honed his strategies after adhering for years to Buffett’s advice of just buying and holding an S&P 500 index fund.\n“But then I started looking at history and you know it took 25 years for the market to get back to the 1929 peak, and I don’t have 25 years,” said Wolfenbarger, who is in his early 50s. “Any given investment can go down 50% to 90% and it can stay down for decades, at least 10 to 20 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11:00","market":"us","language":"en","title":"Pfizer Shows Its R&D Is Strong. It’s a Good Sign for the Stock.<blockquote>辉瑞显示其研发实力雄厚。这对该股来说是一个好兆头。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1102251183","media":"Barrons","summary":"Pfizer’s chief scientific officer, Mikael Dolsten, sounded giddy when reached via telephone early Mo","content":"<p>Pfizer’s&nbsp;chief scientific officer, Mikael Dolsten, sounded giddy when reached via telephone early Monday morning. It was just days after his company knocked the socks off the market with the news that its Covid-19 antiviral had cut the risk of hospitalization by 89% in high-risk adults.</p><p><blockquote>周一早上，辉瑞公司首席科学官米凯尔·多尔斯滕(Mikael Dolsten)接到电话时，听起来很头晕。就在几天前，他的公司宣布其Covid-19抗病毒药物将高危成年人的住院风险降低了89%。</blockquote></p><p> “It can’t be just a random thing, that you’re able to beat this type of world record and get a grand slam at the same time by chance,” Dolsten said, scrambling sports metaphors as he sought to illustrate the magnitude of Pfizer’s twin wins: the development of a stunningly effective Covid-19 vaccine in just 10 months, followed a year later by the development of a similarly stunning Covid-19 antiviral.</p><p><blockquote>多尔斯滕说：“你能够打破这种类型的世界纪录，同时偶然获得大满贯，这不可能只是一件随机的事情。”他在试图说明辉瑞的双重胜利：在短短10个月内开发出了一种效果惊人的Covid-19疫苗，一年后又开发出了一种同样令人惊叹的Covid-19抗病毒药物。</blockquote></p><p> Two years ago, Pfizer (ticker: PFE) CEO Albert Bourla asked investors to take a big gamble on the research-and-development operation that Dolsten has rebuilt over the course of more than a decade. That bet is looking smarter than ever.</p><p><blockquote>两年前，辉瑞（股票代码：PFE）首席执行官阿尔伯特·布尔拉（Albert Bourla）要求投资者对多尔斯滕十多年来重建的研发业务进行豪赌。这个赌注看起来比以往任何时候都更聪明。</blockquote></p><p> Bourla has gotten rid of Pfizer’s off-patent drugs division and the last of its consumer health products, leaving behind a pure-play biopharma company that will live or die on the strength of Dolsten’s science.</p><p><blockquote>Bourla已经摆脱了辉瑞的非专利药物部门及其最后的消费者健康产品，留下了一家纯粹的生物制药公司，该公司的生死存亡都取决于Dolsten的科学实力。</blockquote></p><p> In a cover story in November 2019, <i>Barron’s</i> argued that Bourla and Dolsten could pull it off.</p><p><blockquote>在2019年11月的一篇封面报道中，<i>巴伦周刊</i>认为布尔拉和多尔斯滕可以成功。</blockquote></p><p> The new antiviral data reaffirms the case for Pfizer that <i>Barron’s</i> made two years ago. Continuing to profit off the pandemic, however, brings new risks, as criticism grows over the global inequity in vaccine distribution. Low-income nations account for less than 1% of the more than seven billion doses administered worldwide. If distribution of Pfizer’s antiviral continues to favor wealthy nations, the company’s stock could ultimately suffer.</p><p><blockquote>新的抗病毒数据再次证实了辉瑞的理由<i>巴伦周刊</i>两年前做的。然而，随着对全球疫苗分配不平等的批评越来越多，继续从大流行中获利会带来新的风险。在全球超过70亿剂疫苗中，低收入国家仅占不到1%。如果辉瑞抗病毒药物的分销继续有利于富裕国家，该公司的股票最终可能会受到影响。</blockquote></p><p> Pfizer’s shares surged 10.9% the day the data came out, their best daily showing in at least 20 years. Still, with the stock now changing hands at around $50, investors continue to undervalue the company. Investors are pricing Pfizer at 12 times next year’s expected earnings, cheaper than peers like&nbsp;Johnson &amp; Johnson&nbsp;(JNJ) and&nbsp;Eli Lilly&nbsp;(LLY).</p><p><blockquote>数据公布当天，辉瑞股价飙升10.9%，创下至少20年来的最佳单日表现。尽管如此，由于该股目前易手价格约为50美元，投资者继续低估该公司的价值。投资者对辉瑞的定价是明年预期收益的12倍，低于强生(JNJ)和礼来(LLY)等同行。</blockquote></p><p> The Pfizer discount can be attributed to concerns over the patent cliff the drugmaker faces at the end of the decade. The company stands to lose exclusivity over a handful of drugs that bring in billions in annual revenue.</p><p><blockquote>辉瑞的折扣可归因于对该制药商在本世纪末面临专利悬崖的担忧。该公司将失去对少数年收入数十亿美元的药物的独家经营权。</blockquote></p><p> The worries are legitimate, but Pfizer’s scientific coup should give investors confidence that the company’s science can carry it safely over that cliff. It may take time for the market to catch up, but for long-term investors, it’s a promising opportunity.</p><p><blockquote>这些担忧是合理的，但辉瑞的科学政变应该让投资者相信该公司的科学能够安全地越过悬崖。市场可能需要时间才能赶上，但对于长期投资者来说，这是一个充满希望的机会。</blockquote></p><p> The success of the antiviral is the best illustration yet of Pfizer’s scientific prowess.</p><p><blockquote>抗病毒药物的成功是辉瑞科学实力的最佳例证。</blockquote></p><p> While Pfizer’s Covid-19 vaccine came out of the labs of the German biotech&nbsp;BioNTech&nbsp;(BNTX), the new Covid-19 antiviral was whipped up by what Dolsten called a “dream team” of scientists at Pfizer’s own labs across the Northeast U.S.</p><p><blockquote>虽然辉瑞的新冠肺炎疫苗来自德国生物技术公司BioNTech(BNTX)的实验室，但新的新冠肺炎抗病毒药物是由多尔斯滕所说的辉瑞位于美国东北部实验室的科学家“梦之队”研制出来的。</blockquote></p><p> In the earliest days of the pandemic, Pfizer split its efforts between its collaboration with BioNTech on the vaccine and its quest for a Covid-19 pill. The vaccine effort operated on a huge scale; Dolsten called it a “mega team” that spanned the Atlantic.</p><p><blockquote>在大流行的早期，辉瑞公司将其工作分为与BioNTech在疫苗上的合作和对Covid-19药丸的探索。疫苗工作规模巨大；多尔斯滕称之为横跨大西洋的“巨型团队”。</blockquote></p><p> The antiviral project was a much smaller operation—a group of Pfizer experts operating with resources left over from the vaccine push.</p><p><blockquote>抗病毒项目规模要小得多——一组辉瑞专家利用疫苗推广剩余的资源进行运营。</blockquote></p><p> “The small molecule was more like a nimble, laser-focused, high-end team, with rather moderate resources,” Dolsten said.</p><p><blockquote>“小分子更像是一个灵活、专注于激光的高端团队，拥有相当适中的资源，”多尔斯滕说。</blockquote></p><p> Dolsten gathered some of Pfizer’s most experienced scientists to work on the antiviral project, including its head of medicine design, Charlotte Allerton. The scientists started with work Pfizer had done years ago on a type of antiviral called a protease inhibitor.</p><p><blockquote>多尔斯滕召集了辉瑞公司一些最有经验的科学家参与抗病毒项目，其中包括药物设计主管夏洛特·阿勒顿。科学家们从辉瑞公司多年前在一种叫做蛋白酶抑制剂的抗病毒药物上所做的工作开始。</blockquote></p><p> “[Pfizer’s] pharmaceutical R&amp;D is better than people had thought.”</p><p><blockquote>“（辉瑞的）制药研发比人们想象的要好。”</blockquote></p><p> The protease inhibitors in the Pfizer library, however, had been administered intravenously, and had not worked well when delivered orally. The team had to figure out how to adapt the drugs to oral administration, a substantial undertaking.</p><p><blockquote>然而，辉瑞文库中的蛋白酶抑制剂已经静脉内施用，并且当口服递送时效果不佳。该团队必须弄清楚如何使药物适应口服给药，这是一项艰巨的任务。</blockquote></p><p> “They had to really create a lot of new chemistry,” Dolsten said. The scientists created 600 compounds to nail down the right drug, a process that might normally take years, and which they accomplished in a matter of months. “Four years turned into four months here,” he said.</p><p><blockquote>“他们必须真正创造很多新的化学反应，”多尔斯滕说。科学家们创造了600种化合物来确定正确的药物，这个过程通常可能需要数年时间，但他们在几个月内就完成了。“在这里，四年变成了四个月，”他说。</blockquote></p><p> Pfizer started testing the pill in humans in March. It is now running a number of Phase 2/3 trials of the drug, including one for patients who are high risk, one for patients not high risk, and one as a prophylaxis for patients who have been exposed to the virus but aren’t yet sick. In the first readout, the drug looked substantially more effective than the Covid treatment pill from&nbsp;Merck&nbsp;(MRK).</p><p><blockquote>辉瑞公司于三月份开始在人体中测试这种药物。该公司目前正在进行该药物的多项2/3期试验，包括一项针对高风险患者，一项针对非高风险患者，以及一项针对接触过病毒但尚未患病的患者的预防试验。在第一次读数中，该药物看起来比默克公司(MRK)的新冠治疗药物有效得多。</blockquote></p><p> “It definitely helps prove the point that [Pfizer’s] pharmaceutical R&amp;D is better than people had thought,” says Louise Chen, an analyst at Cantor Fitzgerald, who has an Overweight rating and a $61 price target on the stock.</p><p><blockquote>Cantor Fitzgerald分析师Louise Chen表示：“这无疑有助于证明辉瑞的制药研发比人们想象的要好。”她对该股给予跑赢大盘评级，目标价为61美元。</blockquote></p><p></p><p> Chen says that she doesn’t expect investors to come around to her way of thinking until there is more clarity on the durability of Covid-19 vaccine and pill sales, and the rest of the pipeline gets proved out.</p><p><blockquote>陈表示，在Covid-19疫苗和药丸销售的持久性更加明确以及其余产品得到证实之前，她预计投资者不会接受她的想法。</blockquote></p><p> “There is not one event that I think will trigger a re-rating of the stock at the next level,” she says. “Until those things play out, I don’t think that it necessarily will.”</p><p><blockquote>“我认为没有一个事件会引发该股下一个级别的重新评级，”她说。“在这些事情发生之前，我认为不一定会发生。”</blockquote></p><p> That makes a bet on Pfizer a long-term play. In the meantime, the experience of&nbsp;Moderna&nbsp;(MRNA) in recent weeks is highlighting the potential for the vaccine makers to come under scrutiny over unequal distribution of vaccines.</p><p><blockquote>这使得对辉瑞的押注成为一项长期投资。与此同时，Moderna(MRNA)最近几周的经历凸显了疫苗制造商因疫苗分配不平等而受到审查的可能性。</blockquote></p><p> Biden administration officials have been increasingly frustrated with Moderna, calling on the company to ramp up production so it can offer more doses at not-for-profit prices to low-income countries, with one top official calling on the company to “step up.”</p><p><blockquote>拜登政府官员对Moderna越来越失望，呼吁该公司提高产量，以便能够以非营利价格向低收入国家提供更多剂量，一位高级官员呼吁该公司“挺身而出”。</blockquote></p><p> Moderna shares are down more than 40% over the past three months.</p><p><blockquote>Moderna股价在过去三个月下跌了40%以上。</blockquote></p><p> As the pandemic persists, Pfizer risks eroding the enormous goodwill it earned roughly a year ago when it introduced its Covid-19 vaccine. Earlier this month, Pfizer CEO Bourla blamed low-income countries for unfair vaccine distribution, telling <i>Barron’s</i> that it was their fault for not placing orders. Pfizer has sold a billion vaccine doses to the U.S. at a not-for-profit price to donate to poor countries, and says that a total of at least two billion doses will be delivered to low- and middle-income nations by the end of next year.</p><p><blockquote>随着疫情的持续，辉瑞面临着侵蚀大约一年前推出Covid-19疫苗时赢得的巨大商誉的风险。本月早些时候，辉瑞首席执行官布尔拉指责低收入国家疫苗分配不公平，告诉<i>巴伦周刊</i>没有下订单是他们的错。辉瑞公司已以非营利价格向美国出售了10亿剂疫苗，捐赠给贫穷国家，并表示到明年年底将向中低收入国家提供总计至少20亿剂疫苗。</blockquote></p><p> When it comes to antivirals, Pfizer has said only that it will offer tiered pricing for poorer nations, the same approach it has taken with its vaccine.</p><p><blockquote>在抗病毒药物方面，辉瑞仅表示将为较贫穷国家提供分级定价，与其疫苗采取的方法相同。</blockquote></p><p> That contrasts sharply with Merck’s plan to make its own Covid-19 pill available to poor countries. Merck has signed a deal with a United Nations-backed group that will allow its pill to be licensed globally, with no royalties paid to Merck.</p><p><blockquote>这与默克公司向贫穷国家提供自己的Covid-19药丸的计划形成鲜明对比。默克公司已与一个联合国支持的组织签署了一项协议，允许其药丸在全球范围内获得许可，无需向默克公司支付特许权使用费。</blockquote></p><p> Dolsten said that Pfizer is looking into licensing its pill under a similar mechanism as Merck’s. “We will look at those options,” he said. “By no means have we said we would do something different. We just want to make sure whoever will be involved gets the advice and skill to do this.”</p><p><blockquote>多尔斯滕表示，辉瑞正在考虑根据与默克类似的机制许可其药物。“我们将考虑这些选择，”他说。“我们绝不是说我们会做一些不同的事情。我们只是想确保参与其中的人都能获得这样做的建议和技能。”</blockquote></p><p> Such a step couldn’t come soon enough. Late last month, activists protested outside Bourla’s home, calling on Pfizer to share its vaccine manufacturing technology and to fill orders from low-income countries ahead of those from wealthy countries.</p><p><blockquote>这样的一步来得太快了。上月底，活动人士在布尔拉家外抗议，呼吁辉瑞分享其疫苗制造技术，并在富裕国家之前完成低收入国家的订单。</blockquote></p><p> An aggressive plan to share its antiviral would help stave off such criticism, keeping Pfizer in the relative good graces of Washington and allowing its impressive science to continue to drive the stock higher.</p><p><blockquote>分享其抗病毒药物的积极计划将有助于避免此类批评，使辉瑞公司相对受到华盛顿的青睐，并使其令人印象深刻的科学知识继续推动股价走高。</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>Pfizer Shows Its R&D Is Strong. It’s a Good Sign for the Stock.<blockquote>辉瑞显示其研发实力雄厚。这对该股来说是一个好兆头。</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\">\nPfizer Shows Its R&D Is Strong. It’s a Good Sign for the Stock.<blockquote>辉瑞显示其研发实力雄厚。这对该股来说是一个好兆头。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-11-13 11:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Pfizer’s&nbsp;chief scientific officer, Mikael Dolsten, sounded giddy when reached via telephone early Monday morning. It was just days after his company knocked the socks off the market with the news that its Covid-19 antiviral had cut the risk of hospitalization by 89% in high-risk adults.</p><p><blockquote>周一早上，辉瑞公司首席科学官米凯尔·多尔斯滕(Mikael Dolsten)接到电话时，听起来很头晕。就在几天前，他的公司宣布其Covid-19抗病毒药物将高危成年人的住院风险降低了89%。</blockquote></p><p> “It can’t be just a random thing, that you’re able to beat this type of world record and get a grand slam at the same time by chance,” Dolsten said, scrambling sports metaphors as he sought to illustrate the magnitude of Pfizer’s twin wins: the development of a stunningly effective Covid-19 vaccine in just 10 months, followed a year later by the development of a similarly stunning Covid-19 antiviral.</p><p><blockquote>多尔斯滕说：“你能够打破这种类型的世界纪录，同时偶然获得大满贯，这不可能只是一件随机的事情。”他在试图说明辉瑞的双重胜利：在短短10个月内开发出了一种效果惊人的Covid-19疫苗，一年后又开发出了一种同样令人惊叹的Covid-19抗病毒药物。</blockquote></p><p> Two years ago, Pfizer (ticker: PFE) CEO Albert Bourla asked investors to take a big gamble on the research-and-development operation that Dolsten has rebuilt over the course of more than a decade. That bet is looking smarter than ever.</p><p><blockquote>两年前，辉瑞（股票代码：PFE）首席执行官阿尔伯特·布尔拉（Albert Bourla）要求投资者对多尔斯滕十多年来重建的研发业务进行豪赌。这个赌注看起来比以往任何时候都更聪明。</blockquote></p><p> Bourla has gotten rid of Pfizer’s off-patent drugs division and the last of its consumer health products, leaving behind a pure-play biopharma company that will live or die on the strength of Dolsten’s science.</p><p><blockquote>Bourla已经摆脱了辉瑞的非专利药物部门及其最后的消费者健康产品，留下了一家纯粹的生物制药公司，该公司的生死存亡都取决于Dolsten的科学实力。</blockquote></p><p> In a cover story in November 2019, <i>Barron’s</i> argued that Bourla and Dolsten could pull it off.</p><p><blockquote>在2019年11月的一篇封面报道中，<i>巴伦周刊</i>认为布尔拉和多尔斯滕可以成功。</blockquote></p><p> The new antiviral data reaffirms the case for Pfizer that <i>Barron’s</i> made two years ago. Continuing to profit off the pandemic, however, brings new risks, as criticism grows over the global inequity in vaccine distribution. Low-income nations account for less than 1% of the more than seven billion doses administered worldwide. If distribution of Pfizer’s antiviral continues to favor wealthy nations, the company’s stock could ultimately suffer.</p><p><blockquote>新的抗病毒数据再次证实了辉瑞的理由<i>巴伦周刊</i>两年前做的。然而，随着对全球疫苗分配不平等的批评越来越多，继续从大流行中获利会带来新的风险。在全球超过70亿剂疫苗中，低收入国家仅占不到1%。如果辉瑞抗病毒药物的分销继续有利于富裕国家，该公司的股票最终可能会受到影响。</blockquote></p><p> Pfizer’s shares surged 10.9% the day the data came out, their best daily showing in at least 20 years. Still, with the stock now changing hands at around $50, investors continue to undervalue the company. Investors are pricing Pfizer at 12 times next year’s expected earnings, cheaper than peers like&nbsp;Johnson &amp; Johnson&nbsp;(JNJ) and&nbsp;Eli Lilly&nbsp;(LLY).</p><p><blockquote>数据公布当天，辉瑞股价飙升10.9%，创下至少20年来的最佳单日表现。尽管如此，由于该股目前易手价格约为50美元，投资者继续低估该公司的价值。投资者对辉瑞的定价是明年预期收益的12倍，低于强生(JNJ)和礼来(LLY)等同行。</blockquote></p><p> The Pfizer discount can be attributed to concerns over the patent cliff the drugmaker faces at the end of the decade. The company stands to lose exclusivity over a handful of drugs that bring in billions in annual revenue.</p><p><blockquote>辉瑞的折扣可归因于对该制药商在本世纪末面临专利悬崖的担忧。该公司将失去对少数年收入数十亿美元的药物的独家经营权。</blockquote></p><p> The worries are legitimate, but Pfizer’s scientific coup should give investors confidence that the company’s science can carry it safely over that cliff. It may take time for the market to catch up, but for long-term investors, it’s a promising opportunity.</p><p><blockquote>这些担忧是合理的，但辉瑞的科学政变应该让投资者相信该公司的科学能够安全地越过悬崖。市场可能需要时间才能赶上，但对于长期投资者来说，这是一个充满希望的机会。</blockquote></p><p> The success of the antiviral is the best illustration yet of Pfizer’s scientific prowess.</p><p><blockquote>抗病毒药物的成功是辉瑞科学实力的最佳例证。</blockquote></p><p> While Pfizer’s Covid-19 vaccine came out of the labs of the German biotech&nbsp;BioNTech&nbsp;(BNTX), the new Covid-19 antiviral was whipped up by what Dolsten called a “dream team” of scientists at Pfizer’s own labs across the Northeast U.S.</p><p><blockquote>虽然辉瑞的新冠肺炎疫苗来自德国生物技术公司BioNTech(BNTX)的实验室，但新的新冠肺炎抗病毒药物是由多尔斯滕所说的辉瑞位于美国东北部实验室的科学家“梦之队”研制出来的。</blockquote></p><p> In the earliest days of the pandemic, Pfizer split its efforts between its collaboration with BioNTech on the vaccine and its quest for a Covid-19 pill. The vaccine effort operated on a huge scale; Dolsten called it a “mega team” that spanned the Atlantic.</p><p><blockquote>在大流行的早期，辉瑞公司将其工作分为与BioNTech在疫苗上的合作和对Covid-19药丸的探索。疫苗工作规模巨大；多尔斯滕称之为横跨大西洋的“巨型团队”。</blockquote></p><p> The antiviral project was a much smaller operation—a group of Pfizer experts operating with resources left over from the vaccine push.</p><p><blockquote>抗病毒项目规模要小得多——一组辉瑞专家利用疫苗推广剩余的资源进行运营。</blockquote></p><p> “The small molecule was more like a nimble, laser-focused, high-end team, with rather moderate resources,” Dolsten said.</p><p><blockquote>“小分子更像是一个灵活、专注于激光的高端团队，拥有相当适中的资源，”多尔斯滕说。</blockquote></p><p> Dolsten gathered some of Pfizer’s most experienced scientists to work on the antiviral project, including its head of medicine design, Charlotte Allerton. The scientists started with work Pfizer had done years ago on a type of antiviral called a protease inhibitor.</p><p><blockquote>多尔斯滕召集了辉瑞公司一些最有经验的科学家参与抗病毒项目，其中包括药物设计主管夏洛特·阿勒顿。科学家们从辉瑞公司多年前在一种叫做蛋白酶抑制剂的抗病毒药物上所做的工作开始。</blockquote></p><p> “[Pfizer’s] pharmaceutical R&amp;D is better than people had thought.”</p><p><blockquote>“（辉瑞的）制药研发比人们想象的要好。”</blockquote></p><p> The protease inhibitors in the Pfizer library, however, had been administered intravenously, and had not worked well when delivered orally. The team had to figure out how to adapt the drugs to oral administration, a substantial undertaking.</p><p><blockquote>然而，辉瑞文库中的蛋白酶抑制剂已经静脉内施用，并且当口服递送时效果不佳。该团队必须弄清楚如何使药物适应口服给药，这是一项艰巨的任务。</blockquote></p><p> “They had to really create a lot of new chemistry,” Dolsten said. The scientists created 600 compounds to nail down the right drug, a process that might normally take years, and which they accomplished in a matter of months. “Four years turned into four months here,” he said.</p><p><blockquote>“他们必须真正创造很多新的化学反应，”多尔斯滕说。科学家们创造了600种化合物来确定正确的药物，这个过程通常可能需要数年时间，但他们在几个月内就完成了。“在这里，四年变成了四个月，”他说。</blockquote></p><p> Pfizer started testing the pill in humans in March. It is now running a number of Phase 2/3 trials of the drug, including one for patients who are high risk, one for patients not high risk, and one as a prophylaxis for patients who have been exposed to the virus but aren’t yet sick. In the first readout, the drug looked substantially more effective than the Covid treatment pill from&nbsp;Merck&nbsp;(MRK).</p><p><blockquote>辉瑞公司于三月份开始在人体中测试这种药物。该公司目前正在进行该药物的多项2/3期试验，包括一项针对高风险患者，一项针对非高风险患者，以及一项针对接触过病毒但尚未患病的患者的预防试验。在第一次读数中，该药物看起来比默克公司(MRK)的新冠治疗药物有效得多。</blockquote></p><p> “It definitely helps prove the point that [Pfizer’s] pharmaceutical R&amp;D is better than people had thought,” says Louise Chen, an analyst at Cantor Fitzgerald, who has an Overweight rating and a $61 price target on the stock.</p><p><blockquote>Cantor Fitzgerald分析师Louise Chen表示：“这无疑有助于证明辉瑞的制药研发比人们想象的要好。”她对该股给予跑赢大盘评级，目标价为61美元。</blockquote></p><p></p><p> Chen says that she doesn’t expect investors to come around to her way of thinking until there is more clarity on the durability of Covid-19 vaccine and pill sales, and the rest of the pipeline gets proved out.</p><p><blockquote>陈表示，在Covid-19疫苗和药丸销售的持久性更加明确以及其余产品得到证实之前，她预计投资者不会接受她的想法。</blockquote></p><p> “There is not one event that I think will trigger a re-rating of the stock at the next level,” she says. “Until those things play out, I don’t think that it necessarily will.”</p><p><blockquote>“我认为没有一个事件会引发该股下一个级别的重新评级，”她说。“在这些事情发生之前，我认为不一定会发生。”</blockquote></p><p> That makes a bet on Pfizer a long-term play. In the meantime, the experience of&nbsp;Moderna&nbsp;(MRNA) in recent weeks is highlighting the potential for the vaccine makers to come under scrutiny over unequal distribution of vaccines.</p><p><blockquote>这使得对辉瑞的押注成为一项长期投资。与此同时，Moderna(MRNA)最近几周的经历凸显了疫苗制造商因疫苗分配不平等而受到审查的可能性。</blockquote></p><p> Biden administration officials have been increasingly frustrated with Moderna, calling on the company to ramp up production so it can offer more doses at not-for-profit prices to low-income countries, with one top official calling on the company to “step up.”</p><p><blockquote>拜登政府官员对Moderna越来越失望，呼吁该公司提高产量，以便能够以非营利价格向低收入国家提供更多剂量，一位高级官员呼吁该公司“挺身而出”。</blockquote></p><p> Moderna shares are down more than 40% over the past three months.</p><p><blockquote>Moderna股价在过去三个月下跌了40%以上。</blockquote></p><p> As the pandemic persists, Pfizer risks eroding the enormous goodwill it earned roughly a year ago when it introduced its Covid-19 vaccine. Earlier this month, Pfizer CEO Bourla blamed low-income countries for unfair vaccine distribution, telling <i>Barron’s</i> that it was their fault for not placing orders. Pfizer has sold a billion vaccine doses to the U.S. at a not-for-profit price to donate to poor countries, and says that a total of at least two billion doses will be delivered to low- and middle-income nations by the end of next year.</p><p><blockquote>随着疫情的持续，辉瑞面临着侵蚀大约一年前推出Covid-19疫苗时赢得的巨大商誉的风险。本月早些时候，辉瑞首席执行官布尔拉指责低收入国家疫苗分配不公平，告诉<i>巴伦周刊</i>没有下订单是他们的错。辉瑞公司已以非营利价格向美国出售了10亿剂疫苗，捐赠给贫穷国家，并表示到明年年底将向中低收入国家提供总计至少20亿剂疫苗。</blockquote></p><p> When it comes to antivirals, Pfizer has said only that it will offer tiered pricing for poorer nations, the same approach it has taken with its vaccine.</p><p><blockquote>在抗病毒药物方面，辉瑞仅表示将为较贫穷国家提供分级定价，与其疫苗采取的方法相同。</blockquote></p><p> That contrasts sharply with Merck’s plan to make its own Covid-19 pill available to poor countries. Merck has signed a deal with a United Nations-backed group that will allow its pill to be licensed globally, with no royalties paid to Merck.</p><p><blockquote>这与默克公司向贫穷国家提供自己的Covid-19药丸的计划形成鲜明对比。默克公司已与一个联合国支持的组织签署了一项协议，允许其药丸在全球范围内获得许可，无需向默克公司支付特许权使用费。</blockquote></p><p> Dolsten said that Pfizer is looking into licensing its pill under a similar mechanism as Merck’s. “We will look at those options,” he said. “By no means have we said we would do something different. We just want to make sure whoever will be involved gets the advice and skill to do this.”</p><p><blockquote>多尔斯滕表示，辉瑞正在考虑根据与默克类似的机制许可其药物。“我们将考虑这些选择，”他说。“我们绝不是说我们会做一些不同的事情。我们只是想确保参与其中的人都能获得这样做的建议和技能。”</blockquote></p><p> Such a step couldn’t come soon enough. Late last month, activists protested outside Bourla’s home, calling on Pfizer to share its vaccine manufacturing technology and to fill orders from low-income countries ahead of those from wealthy countries.</p><p><blockquote>这样的一步来得太快了。上月底，活动人士在布尔拉家外抗议，呼吁辉瑞分享其疫苗制造技术，并在富裕国家之前完成低收入国家的订单。</blockquote></p><p> An aggressive plan to share its antiviral would help stave off such criticism, keeping Pfizer in the relative good graces of Washington and allowing its impressive science to continue to drive the stock higher.</p><p><blockquote>分享其抗病毒药物的积极计划将有助于避免此类批评，使辉瑞公司相对受到华盛顿的青睐，并使其令人印象深刻的科学知识继续推动股价走高。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/buy-pfizer-stock-covid-19-51636674652?mod=hp_LEAD_1\">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":{"PFE":"辉瑞"},"source_url":"https://www.barrons.com/articles/buy-pfizer-stock-covid-19-51636674652?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102251183","content_text":"Pfizer’s chief scientific officer, Mikael Dolsten, sounded giddy when reached via telephone early Monday morning. It was just days after his company knocked the socks off the market with the news that its Covid-19 antiviral had cut the risk of hospitalization by 89% in high-risk adults.\n“It can’t be just a random thing, that you’re able to beat this type of world record and get a grand slam at the same time by chance,” Dolsten said, scrambling sports metaphors as he sought to illustrate the magnitude of Pfizer’s twin wins: the development of a stunningly effective Covid-19 vaccine in just 10 months, followed a year later by the development of a similarly stunning Covid-19 antiviral.\nTwo years ago, Pfizer (ticker: PFE) CEO Albert Bourla asked investors to take a big gamble on the research-and-development operation that Dolsten has rebuilt over the course of more than a decade. That bet is looking smarter than ever.\nBourla has gotten rid of Pfizer’s off-patent drugs division and the last of its consumer health products, leaving behind a pure-play biopharma company that will live or die on the strength of Dolsten’s science.\nIn a cover story in November 2019, Barron’s argued that Bourla and Dolsten could pull it off.\nThe new antiviral data reaffirms the case for Pfizer that Barron’s made two years ago. Continuing to profit off the pandemic, however, brings new risks, as criticism grows over the global inequity in vaccine distribution. Low-income nations account for less than 1% of the more than seven billion doses administered worldwide. If distribution of Pfizer’s antiviral continues to favor wealthy nations, the company’s stock could ultimately suffer.\nPfizer’s shares surged 10.9% the day the data came out, their best daily showing in at least 20 years. Still, with the stock now changing hands at around $50, investors continue to undervalue the company. Investors are pricing Pfizer at 12 times next year’s expected earnings, cheaper than peers like Johnson & Johnson (JNJ) and Eli Lilly (LLY).\nThe Pfizer discount can be attributed to concerns over the patent cliff the drugmaker faces at the end of the decade. The company stands to lose exclusivity over a handful of drugs that bring in billions in annual revenue.\nThe worries are legitimate, but Pfizer’s scientific coup should give investors confidence that the company’s science can carry it safely over that cliff. It may take time for the market to catch up, but for long-term investors, it’s a promising opportunity.\nThe success of the antiviral is the best illustration yet of Pfizer’s scientific prowess.\nWhile Pfizer’s Covid-19 vaccine came out of the labs of the German biotech BioNTech (BNTX), the new Covid-19 antiviral was whipped up by what Dolsten called a “dream team” of scientists at Pfizer’s own labs across the Northeast U.S.\nIn the earliest days of the pandemic, Pfizer split its efforts between its collaboration with BioNTech on the vaccine and its quest for a Covid-19 pill. The vaccine effort operated on a huge scale; Dolsten called it a “mega team” that spanned the Atlantic.\nThe antiviral project was a much smaller operation—a group of Pfizer experts operating with resources left over from the vaccine push.\n“The small molecule was more like a nimble, laser-focused, high-end team, with rather moderate resources,” Dolsten said.\nDolsten gathered some of Pfizer’s most experienced scientists to work on the antiviral project, including its head of medicine design, Charlotte Allerton. The scientists started with work Pfizer had done years ago on a type of antiviral called a protease inhibitor.\n“[Pfizer’s] pharmaceutical R&D is better than people had thought.”\nThe protease inhibitors in the Pfizer library, however, had been administered intravenously, and had not worked well when delivered orally. The team had to figure out how to adapt the drugs to oral administration, a substantial undertaking.\n“They had to really create a lot of new chemistry,” Dolsten said. The scientists created 600 compounds to nail down the right drug, a process that might normally take years, and which they accomplished in a matter of months. “Four years turned into four months here,” he said.\nPfizer started testing the pill in humans in March. It is now running a number of Phase 2/3 trials of the drug, including one for patients who are high risk, one for patients not high risk, and one as a prophylaxis for patients who have been exposed to the virus but aren’t yet sick. In the first readout, the drug looked substantially more effective than the Covid treatment pill from Merck (MRK).\n“It definitely helps prove the point that [Pfizer’s] pharmaceutical R&D is better than people had thought,” says Louise Chen, an analyst at Cantor Fitzgerald, who has an Overweight rating and a $61 price target on the stock.\nChen says that she doesn’t expect investors to come around to her way of thinking until there is more clarity on the durability of Covid-19 vaccine and pill sales, and the rest of the pipeline gets proved out.\n“There is not one event that I think will trigger a re-rating of the stock at the next level,” she says. “Until those things play out, I don’t think that it necessarily will.”\nThat makes a bet on Pfizer a long-term play. In the meantime, the experience of Moderna (MRNA) in recent weeks is highlighting the potential for the vaccine makers to come under scrutiny over unequal distribution of vaccines.\nBiden administration officials have been increasingly frustrated with Moderna, calling on the company to ramp up production so it can offer more doses at not-for-profit prices to low-income countries, with one top official calling on the company to “step up.”\nModerna shares are down more than 40% over the past three months.\nAs the pandemic persists, Pfizer risks eroding the enormous goodwill it earned roughly a year ago when it introduced its Covid-19 vaccine. Earlier this month, Pfizer CEO Bourla blamed low-income countries for unfair vaccine distribution, telling Barron’s that it was their fault for not placing orders. Pfizer has sold a billion vaccine doses to the U.S. at a not-for-profit price to donate to poor countries, and says that a total of at least two billion doses will be delivered to low- and middle-income nations by the end of next year.\nWhen it comes to antivirals, Pfizer has said only that it will offer tiered pricing for poorer nations, the same approach it has taken with its vaccine.\nThat contrasts sharply with Merck’s plan to make its own Covid-19 pill available to poor countries. Merck has signed a deal with a United Nations-backed group that will allow its pill to be licensed globally, with no royalties paid to Merck.\nDolsten said that Pfizer is looking into licensing its pill under a similar mechanism as Merck’s. “We will look at those options,” he said. “By no means have we said we would do something different. We just want to make sure whoever will be involved gets the advice and skill to do this.”\nSuch a step couldn’t come soon enough. Late last month, activists protested outside Bourla’s home, calling on Pfizer to share its vaccine manufacturing technology and to fill orders from low-income countries ahead of those from wealthy countries.\nAn aggressive plan to share its antiviral would help stave off such criticism, keeping Pfizer in the relative good graces of Washington and allowing its impressive science to continue to drive the stock higher.","news_type":1,"symbols_score_info":{"PFE":0.9}},"isVote":1,"tweetType":1,"viewCount":1080,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":848990926,"gmtCreate":1635951629271,"gmtModify":1635954701996,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848990926","repostId":"1150419485","repostType":4,"isVote":1,"tweetType":1,"viewCount":1433,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":859410846,"gmtCreate":1634720594862,"gmtModify":1634720953591,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/859410846","repostId":"1134152618","repostType":4,"repost":{"id":"1134152618","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":1634719942,"share":"https://www.laohu8.com/m/news/1134152618?lang=zh_CN&edition=full","pubTime":"2021-10-20 16:52","market":"us","language":"en","title":"Netflix fell nearly 2% in premarket trading as it showed the lowest growth rate in 16 quarters<blockquote>Netflix盘前交易下跌近2%，增速创16个季度以来最低</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1134152618","media":"Tiger Newspress","summary":"Netflix fell nearly 2% in premarket trading as it showed the lowest growth rate in 16 quarters. \nThe","content":"<p>Netflix fell nearly 2% in premarket trading as it showed the lowest growth rate in 16 quarters.&nbsp;<img src=\"https://static.tigerbbs.com/861a4a64bdb5e42d1219f39753b69744\" tg-width=\"774\" tg-height=\"372\" referrerpolicy=\"no-referrer\"></p><p><blockquote>Netflix盘前交易中下跌近2%，因其增长率为16个季度以来的最低水平。</blockquote></p><p> The financial report showed that Netflix's revenue in the third quarter was 7.48 billion US dollars, which was consistent with market expectations and increased by 16.3% year-on-year, the lowest growth rate in 16 quarters; The net profit was USD 1.449 billion, exceeding the market expectation of USD 1.16 billion and increasing by 83.42% year-on-year.</p><p><blockquote>财报显示，奈飞第三季度营收74.8亿美元，符合市场预期，同比增长16.3%，为16个季度以来最低增速；净利润14.49亿美元，超出市场预期的11.6亿美元，同比增长83.42%。</blockquote></p><p> In the third quarter of 2021, the number of new paid subscribers of Netflix Global Streaming Media was 4.38 million, which doubled year-on-year, and the market is expected to increase by 3.72 million.</p><p><blockquote>2021年第三季度，奈飞全球流媒体新增付费订阅用户438万，同比增长翻倍，预计市场将增加372万。</blockquote></p><p> The company has 213.56 million paid streaming users worldwide. Four weeks before the launch of Squid Game, a Korean homemade drama produced by Netflix, 142 million member families watched it worldwide.</p><p><blockquote>该公司在全球拥有2.1356亿付费流媒体用户。Netflix制作的韩国自制剧《鱿鱼游戏》开播前四周，全球有1.42亿会员家庭观看。</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>Netflix fell nearly 2% in premarket trading as it showed the lowest growth rate in 16 quarters<blockquote>Netflix盘前交易下跌近2%，增速创16个季度以来最低</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\">\nNetflix fell nearly 2% in premarket trading as it showed the lowest growth rate in 16 quarters<blockquote>Netflix盘前交易下跌近2%，增速创16个季度以来最低</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\">2021-10-20 16:52</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Netflix fell nearly 2% in premarket trading as it showed the lowest growth rate in 16 quarters.&nbsp;<img src=\"https://static.tigerbbs.com/861a4a64bdb5e42d1219f39753b69744\" tg-width=\"774\" tg-height=\"372\" referrerpolicy=\"no-referrer\"></p><p><blockquote>Netflix盘前交易中下跌近2%，因其增长率为16个季度以来的最低水平。</blockquote></p><p> The financial report showed that Netflix's revenue in the third quarter was 7.48 billion US dollars, which was consistent with market expectations and increased by 16.3% year-on-year, the lowest growth rate in 16 quarters; The net profit was USD 1.449 billion, exceeding the market expectation of USD 1.16 billion and increasing by 83.42% year-on-year.</p><p><blockquote>财报显示，奈飞第三季度营收74.8亿美元，符合市场预期，同比增长16.3%，为16个季度以来最低增速；净利润14.49亿美元，超出市场预期的11.6亿美元，同比增长83.42%。</blockquote></p><p> In the third quarter of 2021, the number of new paid subscribers of Netflix Global Streaming Media was 4.38 million, which doubled year-on-year, and the market is expected to increase by 3.72 million.</p><p><blockquote>2021年第三季度，奈飞全球流媒体新增付费订阅用户438万，同比增长翻倍，预计市场将增加372万。</blockquote></p><p> The company has 213.56 million paid streaming users worldwide. Four weeks before the launch of Squid Game, a Korean homemade drama produced by Netflix, 142 million member families watched it worldwide.</p><p><blockquote>该公司在全球拥有2.1356亿付费流媒体用户。Netflix制作的韩国自制剧《鱿鱼游戏》开播前四周，全球有1.42亿会员家庭观看。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NFLX":"奈飞"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134152618","content_text":"Netflix fell nearly 2% in premarket trading as it showed the lowest growth rate in 16 quarters. \nThe financial report showed that Netflix's revenue in the third quarter was 7.48 billion US dollars, which was consistent with market expectations and increased by 16.3% year-on-year, the lowest growth rate in 16 quarters; The net profit was USD 1.449 billion, exceeding the market expectation of USD 1.16 billion and increasing by 83.42% year-on-year.\nIn the third quarter of 2021, the number of new paid subscribers of Netflix Global Streaming Media was 4.38 million, which doubled year-on-year, and the market is expected to increase by 3.72 million.\nThe company has 213.56 million paid streaming users worldwide. Four weeks before the launch of Squid Game, a Korean homemade drama produced by Netflix, 142 million member families watched it worldwide.","news_type":1,"symbols_score_info":{"NFLX":0.9}},"isVote":1,"tweetType":1,"viewCount":1254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":829008223,"gmtCreate":1633440810642,"gmtModify":1633443676127,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/829008223","repostId":"1140243685","repostType":4,"repost":{"id":"1140243685","kind":"news","pubTimestamp":1633440012,"share":"https://www.laohu8.com/m/news/1140243685?lang=zh_CN&edition=full","pubTime":"2021-10-05 21:20","market":"us","language":"en","title":"This veteran analyst hears echoes of the 1929 crash in today’s stock market<blockquote>这位资深分析师在今天的股市中听到了1929年崩盘的回声</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1140243685","media":"Marketwatch","summary":"There are some signs of a recovery attempt following Monday’s wipeout, chiefly for techs. The Nasdaq","content":"<p>There are some signs of a recovery attempt following Monday’s wipeout, chiefly for techs. The Nasdaq CompositeCOMPisteetering toward correction territory&nbsp;and the S&amp;P 500SPXand Dow industrialsDJIAare halfway there. With jobs data looming for Friday, even the bravest dip buyers may have second thoughts.</p><p><blockquote>在周一的暴跌之后，有一些复苏的迹象，主要是科技股。纳斯达克综合指数正在走向调整区域，标准普尔500SPX和道琼斯工业平均指数已经走到了一半。随着周五就业数据的临近，即使是最勇敢的逢低买入者也可能会改变主意。</blockquote></p><p> Don’t look for reassurance in our&nbsp;<b>call of the day</b>, where the founder and CEO ofBullAndBearProfits.com, Jon Wolfenbarger, predicts U.S. stocks may be “on the verge of starting the biggest bear market since the Great Depression.”</p><p><blockquote>不要在我们的<b>今日看涨期权</b>BullandBearProfits.com创始人兼首席执行官乔恩·沃尔芬伯格(Jon Wolfenbarger)预测，美国股市可能“即将开启自大萧条以来最大的熊市”。</blockquote></p><p> “Now with the Fed talking about tapering and money supply growth slowing&nbsp;significantly from 39% y/y in February to only 8% y/y in August, perhaps that is&nbsp;enough of a ‘tight monetary policy’ to change investor psychology to a more&nbsp;bearish mood? We will see,” he said in a Monday interview and follow-up comments with MarketWatch.</p><p><blockquote>“现在，随着美联储谈论缩减购债规模，货币供应增长从2月份的同比39%大幅放缓至8月份的同比仅8%，也许‘紧缩货币政策’足以将投资者心理转变为更悲观的情绪？我们拭目以待，”他在周一接受MarketWatch采访和后续评论时表示。</blockquote></p><p> Wolfenbarger, who spent 22 years as an equity analyst at Allianz Global Investors, said while he’s not a permabear — his newsletter offers strategies for profiting when markets go both ways — investors should heed some warnings signs.</p><p><blockquote>Wolfenbarger在Allianz Global Investors担任了22年的股票分析师，他表示，虽然他不是永久看跌者——他的时事通讯提供了在市场双向波动时获利的策略——但投资者应该注意一些警告信号。</blockquote></p><p> Overbullish sentiment, economic weakness, excessive debt levels and limited policy tools are key ingredients for a market rout worse than that seen in 2008-09, he said, adding that a top for the S&amp;P 500 reached a few weeks ago could have been the start.</p><p><blockquote>他表示，过度看涨情绪、经济疲软、债务水平过高和政策工具有限是导致市场暴跌比2008-09年更严重的关键因素，并补充说，几周前达到的标普500顶部可能是开始。</blockquote></p><p> One chart he’s watching that&nbsp;predicts future long-term stock returns— a favorite of legendary investor Warren Buffett, the chairman and CEO of Berkshire HathawayBRKBRK— shows equities 30% above the prior all-time high seen in the tech bubble peak of 2000.</p><p><blockquote>他正在观看的一张预测未来长期股票回报的图表（伯克希尔哈撒韦公司董事长兼首席执行官、传奇投资者沃伦·巴菲特的最爱）显示，股市比2000年科技泡沫高峰时的历史高点高出30%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e73964c10e0be9d02489e2764a98be5\" tg-width=\"700\" tg-height=\"297\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Wolfenbarger is watching S&amp;P 500 moving averages closely. If the 250-day, currently at 4,020, were to “really break through” that could trip a major drop for stock. His below chart shows the S&amp;P 500 price (black line) with its 250-dma since 1980. The red circles indicate when it fell below the 250-dma and the 250-dma slope was falling.</p><p><blockquote>沃尔芬伯格正在密切关注标普500移动平均线。如果250日线（目前为4,020点）“真正突破”，可能会导致股价大幅下跌。他的下图显示了标普500价格（黑线）自1980年以来的250日均线。红色圆圈表示何时跌破250-dma并且250-dma斜率正在下降。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f31fb05ef85111232a3410a405e05f72\" tg-width=\"700\" tg-height=\"316\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> As for what investors should do — Wolfenbarger advised using exchange-traded funds that actually go up in bear markets, which could be the iShares 20+ Year Treasury Bond ETFTLTor SPDR Gold SharesGLD,&nbsp;though he prefers inverse ETFs such as ProShares UltraShort S&amp;P 500SDSand the ProShares Short S&amp;P 500SH.</p><p><blockquote>至于投资者应该做什么——Wolfenbarger建议使用在熊市中实际上涨的交易所交易基金，这可能是iShares 20+年期国债ETFTLTor SPDR Gold SharesGLD，尽管他更喜欢ProShares UltraShort S&amp;P 500SDS和ProShares Short S&amp;P 500SH。</blockquote></p><p> “I personally think it’s easier for most people to just buy an inverse ETF because it moves the same way as a normal stock and ETF, and the SH went up 89% in the last bear market,” he said, adding that SDS went up 184%.</p><p><blockquote>“我个人认为，对于大多数人来说，购买反向ETF更容易，因为它的走势与普通股票和ETF相同，而且SH在上一次熊市中上涨了89%，”他说，并补充说SDS上涨了184%。</blockquote></p><p> Wolfenbarger said he has honed his strategies after adhering for years to Buffett’s advice of just&nbsp;buying and holding an S&amp;P 500 index fund.</p><p><blockquote>Wolfenbarger表示，多年来一直坚持巴菲特的建议，即只购买并持有标普500指数基金，他已经磨练了自己的策略。</blockquote></p><p> “But then I started looking at history and you know it took 25 years for the market to get back to the 1929 peak, and I don’t have 25 years,” said Wolfenbarger, who is in his early 50s. “Any given investment can go down 50% to 90% and it can stay down for decades, at least 10 to 20 years.”</p><p><blockquote>“但后来我开始回顾历史，你知道市场花了25年时间才回到1929年的峰值，而我没有25年的时间，”50岁出头的沃尔芬伯格说。“任何给定的投资都可能下降50%到90%，并且可以持续数十年，至少10到20年。”</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This veteran analyst hears echoes of the 1929 crash in today’s stock market<blockquote>这位资深分析师在今天的股市中听到了1929年崩盘的回声</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\">\nThis veteran analyst hears echoes of the 1929 crash in today’s stock market<blockquote>这位资深分析师在今天的股市中听到了1929年崩盘的回声</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Marketwatch</strong><span class=\"h-time small\">2021-10-05 21:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>There are some signs of a recovery attempt following Monday’s wipeout, chiefly for techs. The Nasdaq CompositeCOMPisteetering toward correction territory&nbsp;and the S&amp;P 500SPXand Dow industrialsDJIAare halfway there. With jobs data looming for Friday, even the bravest dip buyers may have second thoughts.</p><p><blockquote>在周一的暴跌之后，有一些复苏的迹象，主要是科技股。纳斯达克综合指数正在走向调整区域，标准普尔500SPX和道琼斯工业平均指数已经走到了一半。随着周五就业数据的临近，即使是最勇敢的逢低买入者也可能会改变主意。</blockquote></p><p> Don’t look for reassurance in our&nbsp;<b>call of the day</b>, where the founder and CEO ofBullAndBearProfits.com, Jon Wolfenbarger, predicts U.S. stocks may be “on the verge of starting the biggest bear market since the Great Depression.”</p><p><blockquote>不要在我们的<b>今日看涨期权</b>BullandBearProfits.com创始人兼首席执行官乔恩·沃尔芬伯格(Jon Wolfenbarger)预测，美国股市可能“即将开启自大萧条以来最大的熊市”。</blockquote></p><p> “Now with the Fed talking about tapering and money supply growth slowing&nbsp;significantly from 39% y/y in February to only 8% y/y in August, perhaps that is&nbsp;enough of a ‘tight monetary policy’ to change investor psychology to a more&nbsp;bearish mood? We will see,” he said in a Monday interview and follow-up comments with MarketWatch.</p><p><blockquote>“现在，随着美联储谈论缩减购债规模，货币供应增长从2月份的同比39%大幅放缓至8月份的同比仅8%，也许‘紧缩货币政策’足以将投资者心理转变为更悲观的情绪？我们拭目以待，”他在周一接受MarketWatch采访和后续评论时表示。</blockquote></p><p> Wolfenbarger, who spent 22 years as an equity analyst at Allianz Global Investors, said while he’s not a permabear — his newsletter offers strategies for profiting when markets go both ways — investors should heed some warnings signs.</p><p><blockquote>Wolfenbarger在Allianz Global Investors担任了22年的股票分析师，他表示，虽然他不是永久看跌者——他的时事通讯提供了在市场双向波动时获利的策略——但投资者应该注意一些警告信号。</blockquote></p><p> Overbullish sentiment, economic weakness, excessive debt levels and limited policy tools are key ingredients for a market rout worse than that seen in 2008-09, he said, adding that a top for the S&amp;P 500 reached a few weeks ago could have been the start.</p><p><blockquote>他表示，过度看涨情绪、经济疲软、债务水平过高和政策工具有限是导致市场暴跌比2008-09年更严重的关键因素，并补充说，几周前达到的标普500顶部可能是开始。</blockquote></p><p> One chart he’s watching that&nbsp;predicts future long-term stock returns— a favorite of legendary investor Warren Buffett, the chairman and CEO of Berkshire HathawayBRKBRK— shows equities 30% above the prior all-time high seen in the tech bubble peak of 2000.</p><p><blockquote>他正在观看的一张预测未来长期股票回报的图表（伯克希尔哈撒韦公司董事长兼首席执行官、传奇投资者沃伦·巴菲特的最爱）显示，股市比2000年科技泡沫高峰时的历史高点高出30%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e73964c10e0be9d02489e2764a98be5\" tg-width=\"700\" tg-height=\"297\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Wolfenbarger is watching S&amp;P 500 moving averages closely. If the 250-day, currently at 4,020, were to “really break through” that could trip a major drop for stock. His below chart shows the S&amp;P 500 price (black line) with its 250-dma since 1980. The red circles indicate when it fell below the 250-dma and the 250-dma slope was falling.</p><p><blockquote>沃尔芬伯格正在密切关注标普500移动平均线。如果250日线（目前为4,020点）“真正突破”，可能会导致股价大幅下跌。他的下图显示了标普500价格（黑线）自1980年以来的250日均线。红色圆圈表示何时跌破250-dma并且250-dma斜率正在下降。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f31fb05ef85111232a3410a405e05f72\" tg-width=\"700\" tg-height=\"316\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> As for what investors should do — Wolfenbarger advised using exchange-traded funds that actually go up in bear markets, which could be the iShares 20+ Year Treasury Bond ETFTLTor SPDR Gold SharesGLD,&nbsp;though he prefers inverse ETFs such as ProShares UltraShort S&amp;P 500SDSand the ProShares Short S&amp;P 500SH.</p><p><blockquote>至于投资者应该做什么——Wolfenbarger建议使用在熊市中实际上涨的交易所交易基金，这可能是iShares 20+年期国债ETFTLTor SPDR Gold SharesGLD，尽管他更喜欢ProShares UltraShort S&amp;P 500SDS和ProShares Short S&amp;P 500SH。</blockquote></p><p> “I personally think it’s easier for most people to just buy an inverse ETF because it moves the same way as a normal stock and ETF, and the SH went up 89% in the last bear market,” he said, adding that SDS went up 184%.</p><p><blockquote>“我个人认为，对于大多数人来说，购买反向ETF更容易，因为它的走势与普通股票和ETF相同，而且SH在上一次熊市中上涨了89%，”他说，并补充说SDS上涨了184%。</blockquote></p><p> Wolfenbarger said he has honed his strategies after adhering for years to Buffett’s advice of just&nbsp;buying and holding an S&amp;P 500 index fund.</p><p><blockquote>Wolfenbarger表示，多年来一直坚持巴菲特的建议，即只购买并持有标普500指数基金，他已经磨练了自己的策略。</blockquote></p><p> “But then I started looking at history and you know it took 25 years for the market to get back to the 1929 peak, and I don’t have 25 years,” said Wolfenbarger, who is in his early 50s. “Any given investment can go down 50% to 90% and it can stay down for decades, at least 10 to 20 years.”</p><p><blockquote>“但后来我开始回顾历史，你知道市场花了25年时间才回到1929年的峰值，而我没有25年的时间，”50岁出头的沃尔芬伯格说。“任何给定的投资都可能下降50%到90%，并且可以持续数十年，至少10到20年。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/why-this-veteran-analyst-sees-stocks-headed-for-the-biggest-bear-market-since-the-great-depression-11633432477?siteid=yhoof2\">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":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/why-this-veteran-analyst-sees-stocks-headed-for-the-biggest-bear-market-since-the-great-depression-11633432477?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1140243685","content_text":"There are some signs of a recovery attempt following Monday’s wipeout, chiefly for techs. The Nasdaq CompositeCOMPisteetering toward correction territory and the S&P 500SPXand Dow industrialsDJIAare halfway there. With jobs data looming for Friday, even the bravest dip buyers may have second thoughts.\nDon’t look for reassurance in our call of the day, where the founder and CEO ofBullAndBearProfits.com, Jon Wolfenbarger, predicts U.S. stocks may be “on the verge of starting the biggest bear market since the Great Depression.”\n“Now with the Fed talking about tapering and money supply growth slowing significantly from 39% y/y in February to only 8% y/y in August, perhaps that is enough of a ‘tight monetary policy’ to change investor psychology to a more bearish mood? We will see,” he said in a Monday interview and follow-up comments with MarketWatch.\nWolfenbarger, who spent 22 years as an equity analyst at Allianz Global Investors, said while he’s not a permabear — his newsletter offers strategies for profiting when markets go both ways — investors should heed some warnings signs.\nOverbullish sentiment, economic weakness, excessive debt levels and limited policy tools are key ingredients for a market rout worse than that seen in 2008-09, he said, adding that a top for the S&P 500 reached a few weeks ago could have been the start.\nOne chart he’s watching that predicts future long-term stock returns— a favorite of legendary investor Warren Buffett, the chairman and CEO of Berkshire HathawayBRKBRK— shows equities 30% above the prior all-time high seen in the tech bubble peak of 2000.\n\nWolfenbarger is watching S&P 500 moving averages closely. If the 250-day, currently at 4,020, were to “really break through” that could trip a major drop for stock. His below chart shows the S&P 500 price (black line) with its 250-dma since 1980. The red circles indicate when it fell below the 250-dma and the 250-dma slope was falling.\n\nAs for what investors should do — Wolfenbarger advised using exchange-traded funds that actually go up in bear markets, which could be the iShares 20+ Year Treasury Bond ETFTLTor SPDR Gold SharesGLD, though he prefers inverse ETFs such as ProShares UltraShort S&P 500SDSand the ProShares Short S&P 500SH.\n“I personally think it’s easier for most people to just buy an inverse ETF because it moves the same way as a normal stock and ETF, and the SH went up 89% in the last bear market,” he said, adding that SDS went up 184%.\nWolfenbarger said he has honed his strategies after adhering for years to Buffett’s advice of just buying and holding an S&P 500 index fund.\n“But then I started looking at history and you know it took 25 years for the market to get back to the 1929 peak, and I don’t have 25 years,” said Wolfenbarger, who is in his early 50s. “Any given investment can go down 50% to 90% and it can stay down for decades, at least 10 to 20 years.”","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":516,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":828147701,"gmtCreate":1633875502042,"gmtModify":1633914463684,"author":{"id":"4095845928648630","authorId":"4095845928648630","name":"jag3rbomb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095845928648630","authorIdStr":"4095845928648630"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/828147701","repostId":"2174920514","repostType":4,"isVote":1,"tweetType":1,"viewCount":402,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}