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- clarencejyclarencejy
  ·2021-08-08
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- clarencejyclarencejy
  ·2021-08-03
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  Square: Killing It
  Summary Q2 earnings show solid growth with little signs of slowing down. A sizable Australian acqui
  Square: Killing It
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- clarencejyclarencejy
  ·2021-08-02
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  China stocks mixed in morning trading
  (August 2) China stocks mixed in morning trading.
  China stocks mixed in morning trading
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- clarencejyclarencejy
  ·2021-07-29
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- clarencejyclarencejy
  ·2021-07-27
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- clarencejyclarencejy
  ·2021-07-27
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  Intel Sets Plan to Again Become World’s Premier Chip Company
  CEO Pat Gelsinger maps path to catch up with Asian rivals with series of increasingly powerful chips featuring tinier transistors
  Intel Sets Plan to Again Become World’s Premier Chip Company
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- clarencejyclarencejy
  ·2021-07-26
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- clarencejyclarencejy
  ·2021-07-25
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  Is IBM Stock Undervalued Or Overvalued? What To Consider
  Summary IBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.
  Is IBM Stock Undervalued Or Overvalued? What To Consider
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- clarencejyclarencejy
  ·2021-07-24
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  Tencent was ordered to remove the exclusive copyright of online music
  The China market supervision administration made an administrative punishment decision according to
  Tencent was ordered to remove the exclusive copyright of online music
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- clarencejyclarencejy
  ·2021-07-24
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my comment","listText":"like my comment","text":"like my comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/891428070","repostId":"2157901414","repostType":4,"isVote":1,"tweetType":1,"viewCount":489,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804425738,"gmtCreate":1627974156324,"gmtModify":1633754728305,"author":{"id":"3575694032718814","authorId":"3575694032718814","name":"clarencejy","avatar":"https://static.tigerbbs.com/3e824bcaf6beda1d092bd5b17a31d123","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575694032718814","authorIdStr":"3575694032718814"},"themes":[],"htmlText":"like my comment","listText":"like my comment","text":"like my comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/804425738","repostId":"1105546206","repostType":4,"repost":{"id":"1105546206","kind":"news","pubTimestamp":1627973738,"share":"https://www.laohunote.com/m/news/1105546206?lang=&edition=full","pubTime":"2021-08-03 14:55","market":"us","language":"en","title":"Square: Killing It","url":"https://stock-news.laohu8.com/highlight/detail?id=1105546206","media":"seekingalpha","summary":"Summary\n\nQ2 earnings show solid growth with little signs of slowing down.\nA sizable Australian acqui","content":"<p><b>Summary</b></p>\n<ul>\n <li>Q2 earnings show solid growth with little signs of slowing down.</li>\n <li>A sizable Australian acquisition will help scale.</li>\n <li>Bitcoin trades helping drive traffic and usage.</li>\n <li>Cash app still strong as small business returns.</li>\n <li>Shares are going much higher.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ab85907a8bae93764507725561f65355\" tg-width=\"1536\" tg-height=\"864\" width=\"100%\" height=\"auto\"><span>shulz/E+ via Getty Images</span></p>\n<p>We love financial tech stocks, and near the top of the list is Square(NYSE:SQ)which we have traded several times. That said, whilst being a great trading stock, the easiest move is to buy and hold over the next five years. The company is a fintech disruptor, and it is growing like wildfire. The company&nbsp;just reported some stellar earnings,and is showing no signs of slowing down. What is more, an expensive, but well-timed acquisition will help the company scale. While valuing the company on traditional metrics is near impossible, we implore our followers to think very long-term here and believe the company will grow into its stretched valuation. We rate shares a strong buy the closer they are to $200.</p>\n<p>Q2 earnings were solid</p>\n<p>Keep in mind ever since the company allowed access to cryptocurrency (bitcoin), revenues have taken off. In the just announced quarter, net revenue was $4.68 billion up an incredible 143% year-over-year. Excluding bitcoin (BTC-USD) transactions, total net revenue in the second quarter was $1.96 billion, up 87% year over year. While this is still massive growth, you can see how much the bitcoin assets mean to the company. On the whole, gross profit was $1.14 billion up 91% year-over-year. Solid.</p>\n<p>Transaction revenue surges, but watch GPV gross profit</p>\n<p>Revenue from transactions was $1.23 billion rising 80% year-over-year, while gross profit was $543 million, up 85%. The Street may be disappointed with the fact that volumes were less than expected, despite surging from a year ago. Square processed $42.8 billion in GPV up 88% year-over-year. Transaction-based gross profit as a percentage of GPV was 1.27% down 2 basis points year over year and down 5 basis points quarter over quarter. That wasa weakness that the Street might also jump at. You have to remember, with the stretched valuation of this high growth fintech stock, the slightest negative can irritate the shareholder base and trigger selling. We would welcome the selling and encourage a buy.</p>\n<p>That said, subscription and services-based revenue nearly doubled as well to 685 million while gross profit was $561 million, up 90% year-over-year. Keep in mind the acquisition of TIDAL was a big boost in the quarter, but the organic growth was solid as well.</p>\n<p>Cash App and Bitcoin</p>\n<p>The biggest driver of overall growth was the amazing Cash App. Cash App generated $3.33 billion of revenue while delivering $546 million of gross profit. This is huge growth. Revenue rose 177%, while gross profit nearly doubled. Again, bitcoin was a large part of this. If we back out bitcoin, Cash App revenue was $606 million, up 87% year-over-year.</p>\n<p>Keep in mind the prices of bitcoin were falling for most of Q2. It was volatile. Volatility helps with trading revenue, but expect even more positive profit power if bitcoin prices start to rebound. Which, they are, in the last week or so. We think that the cryptocurrency access is huge for the company. Just how big is bitcoin for Square? HUGE. Cash App brought in $2.72 billion of bitcoin revenue and $55 million of bitcoin gross profit in Q2. This was up three-fold from last year. It is major.</p>\n<p>The company itself is taking money in putting it straight into owning bitcoin.According to the release:</p>\n<blockquote>\n <i>In the fourth quarter of 2020 and first quarter of 2021, we invested $50 million and $170 million, respectively, in bitcoin. As an indefinite-lived intangible asset, bitcoin is subject to impairment losses if the fair value of bitcoin decreases below the carrying value during the assessed period. In the second quarter, we recognized a bitcoin impairment loss of $45 million on our bitcoin investment. As of June 30, 2021, the fair value of our investment in bitcoin was $281 million based on observable market prices, which is $127 million greater than the carrying value of the investment.</i>\n</blockquote>\n<p>As you can see, there is serious cash on the line here. As such, expect the stock to continue to trade with a slight correlation with the price of bitcoin. However, the bulk of the business is still transaction based, and we have not even touched on small business</p>\n<p>Small business is coming back</p>\n<p>One of the biggest customers and drivers of revenue for Square are small businesses. They are coming back now that the COVID crisis is improving and the world is reopening. Small businesses as part of the broader seller ecosystem was responsible for $1.31 billion of revenue and $585 million of gross profit, both up over 80% from a year ago. Once again, solid growth.</p>\n<p>Earnings are positive, though could be stronger if operational expenses are controlled but we aren't complaining</p>\n<p>We are not going to complain about a fintech that is in supreme revenue growth mode that is earnings positive. And the company is earnings positive. While a FWD p/e ratio is laughable over 100, or more, we want you looking at the degree of growth. Net income was $204 million. They did have a gain of $77 million by selling their DoorDash investment. Net income was $173 million when excluding that and the aforementioned loss related to the impairment of its bitcoin investment. Operational expenses are high however. Operating expenses were $1.02 billion up 64% from a year ago. Make no mistake, they are commensurate with the huge rise is sales, but the more controlled these expenses are, the better earnings will be.</p>\n<p><b>Nice to see EPS growing</b></p>\n<p>Overall, net income per share was $0.45 on a basic level. If we back out the DoorDash sale and the impairment on bitcoin basic EPS was $0.39, while adjusted EBITDA was $360 million surging from the $98 million a year ago. Overall adjusted EPS was $0.66 a huge $0.48 increase from a year ago. And things are only going to get better.</p>\n<p>A new acquisition, pricey but interesting</p>\n<p>In conjunction withthis weekend's earnings release, Square agreed to buy Australia's Afterpay(OTCPK:AFTPF)for $29 billion (all in stock by the way) to add buy now, pay later abilities. While Afterpay shareholders can take some of it in cash, on the whole, Square is paying roughly $125 per share for Afterpay in Australian dollars, or a 30% premium. That is pricey. The deal will not close until 2022, so the actual fiscal terms may differ at that point. Afterpay shareholders will own approximately nearly 20% of the newly combined company on a fully diluted basis. It is a massive transaction. But Afterpay has had its own immense growth and has surged in popularity. We believe this deal and the capabilities it will bring to Square's users is accretive, and the company will reap the benefits immediately in 2022. For more on Afterpay, we recommendthis column here.</p>\n<p><b>Take home</b></p>\n<p>Make no mistake, Q2 earnings were incredibly strong. The inclusion of bitcoin trading has been a massive benefit to the company as transactional revenue has surged. Small business is coming back and that has led to a big rebound in seller-based transactional fees. This supreme growth fintech is also earnings positive. The acquisition of Afterpay is a huge move to get into the buy now, pay later business which is growing in popularity, specifically among millennials a primary user of Square services. While traditional valuation metrics are not at play here, we urge our members to consider the fact that the company is growing like wildfire. The closer shares get to $200 the more bullish we are. However, shares are a buy at present levels for the long-term.</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>Square: Killing It</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nSquare: Killing It\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-03 14:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4444025-square-killing-it><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nQ2 earnings show solid growth with little signs of slowing down.\nA sizable Australian acquisition will help scale.\nBitcoin trades helping drive traffic and usage.\nCash app still strong as ...</p>\n\n<a href=\"https://seekingalpha.com/article/4444025-square-killing-it\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/article/4444025-square-killing-it","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105546206","content_text":"Summary\n\nQ2 earnings show solid growth with little signs of slowing down.\nA sizable Australian acquisition will help scale.\nBitcoin trades helping drive traffic and usage.\nCash app still strong as small business returns.\nShares are going much higher.\n\nshulz/E+ via Getty Images\nWe love financial tech stocks, and near the top of the list is Square(NYSE:SQ)which we have traded several times. That said, whilst being a great trading stock, the easiest move is to buy and hold over the next five years. The company is a fintech disruptor, and it is growing like wildfire. The company just reported some stellar earnings,and is showing no signs of slowing down. What is more, an expensive, but well-timed acquisition will help the company scale. While valuing the company on traditional metrics is near impossible, we implore our followers to think very long-term here and believe the company will grow into its stretched valuation. We rate shares a strong buy the closer they are to $200.\nQ2 earnings were solid\nKeep in mind ever since the company allowed access to cryptocurrency (bitcoin), revenues have taken off. In the just announced quarter, net revenue was $4.68 billion up an incredible 143% year-over-year. Excluding bitcoin (BTC-USD) transactions, total net revenue in the second quarter was $1.96 billion, up 87% year over year. While this is still massive growth, you can see how much the bitcoin assets mean to the company. On the whole, gross profit was $1.14 billion up 91% year-over-year. Solid.\nTransaction revenue surges, but watch GPV gross profit\nRevenue from transactions was $1.23 billion rising 80% year-over-year, while gross profit was $543 million, up 85%. The Street may be disappointed with the fact that volumes were less than expected, despite surging from a year ago. Square processed $42.8 billion in GPV up 88% year-over-year. Transaction-based gross profit as a percentage of GPV was 1.27% down 2 basis points year over year and down 5 basis points quarter over quarter. That wasa weakness that the Street might also jump at. You have to remember, with the stretched valuation of this high growth fintech stock, the slightest negative can irritate the shareholder base and trigger selling. We would welcome the selling and encourage a buy.\nThat said, subscription and services-based revenue nearly doubled as well to 685 million while gross profit was $561 million, up 90% year-over-year. Keep in mind the acquisition of TIDAL was a big boost in the quarter, but the organic growth was solid as well.\nCash App and Bitcoin\nThe biggest driver of overall growth was the amazing Cash App. Cash App generated $3.33 billion of revenue while delivering $546 million of gross profit. This is huge growth. Revenue rose 177%, while gross profit nearly doubled. Again, bitcoin was a large part of this. If we back out bitcoin, Cash App revenue was $606 million, up 87% year-over-year.\nKeep in mind the prices of bitcoin were falling for most of Q2. It was volatile. Volatility helps with trading revenue, but expect even more positive profit power if bitcoin prices start to rebound. Which, they are, in the last week or so. We think that the cryptocurrency access is huge for the company. Just how big is bitcoin for Square? HUGE. Cash App brought in $2.72 billion of bitcoin revenue and $55 million of bitcoin gross profit in Q2. This was up three-fold from last year. It is major.\nThe company itself is taking money in putting it straight into owning bitcoin.According to the release:\n\nIn the fourth quarter of 2020 and first quarter of 2021, we invested $50 million and $170 million, respectively, in bitcoin. As an indefinite-lived intangible asset, bitcoin is subject to impairment losses if the fair value of bitcoin decreases below the carrying value during the assessed period. In the second quarter, we recognized a bitcoin impairment loss of $45 million on our bitcoin investment. As of June 30, 2021, the fair value of our investment in bitcoin was $281 million based on observable market prices, which is $127 million greater than the carrying value of the investment.\n\nAs you can see, there is serious cash on the line here. As such, expect the stock to continue to trade with a slight correlation with the price of bitcoin. However, the bulk of the business is still transaction based, and we have not even touched on small business\nSmall business is coming back\nOne of the biggest customers and drivers of revenue for Square are small businesses. They are coming back now that the COVID crisis is improving and the world is reopening. Small businesses as part of the broader seller ecosystem was responsible for $1.31 billion of revenue and $585 million of gross profit, both up over 80% from a year ago. Once again, solid growth.\nEarnings are positive, though could be stronger if operational expenses are controlled but we aren't complaining\nWe are not going to complain about a fintech that is in supreme revenue growth mode that is earnings positive. And the company is earnings positive. While a FWD p/e ratio is laughable over 100, or more, we want you looking at the degree of growth. Net income was $204 million. They did have a gain of $77 million by selling their DoorDash investment. Net income was $173 million when excluding that and the aforementioned loss related to the impairment of its bitcoin investment. Operational expenses are high however. Operating expenses were $1.02 billion up 64% from a year ago. Make no mistake, they are commensurate with the huge rise is sales, but the more controlled these expenses are, the better earnings will be.\nNice to see EPS growing\nOverall, net income per share was $0.45 on a basic level. If we back out the DoorDash sale and the impairment on bitcoin basic EPS was $0.39, while adjusted EBITDA was $360 million surging from the $98 million a year ago. Overall adjusted EPS was $0.66 a huge $0.48 increase from a year ago. And things are only going to get better.\nA new acquisition, pricey but interesting\nIn conjunction withthis weekend's earnings release, Square agreed to buy Australia's Afterpay(OTCPK:AFTPF)for $29 billion (all in stock by the way) to add buy now, pay later abilities. While Afterpay shareholders can take some of it in cash, on the whole, Square is paying roughly $125 per share for Afterpay in Australian dollars, or a 30% premium. That is pricey. The deal will not close until 2022, so the actual fiscal terms may differ at that point. Afterpay shareholders will own approximately nearly 20% of the newly combined company on a fully diluted basis. It is a massive transaction. But Afterpay has had its own immense growth and has surged in popularity. We believe this deal and the capabilities it will bring to Square's users is accretive, and the company will reap the benefits immediately in 2022. For more on Afterpay, we recommendthis column here.\nTake home\nMake no mistake, Q2 earnings were incredibly strong. The inclusion of bitcoin trading has been a massive benefit to the company as transactional revenue has surged. Small business is coming back and that has led to a big rebound in seller-based transactional fees. This supreme growth fintech is also earnings positive. The acquisition of Afterpay is a huge move to get into the buy now, pay later business which is growing in popularity, specifically among millennials a primary user of Square services. While traditional valuation metrics are not at play here, we urge our members to consider the fact that the company is growing like wildfire. The closer shares get to $200 the more bullish we are. However, shares are a buy at present levels for the long-term.","news_type":1},"isVote":1,"tweetType":1,"viewCount":236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804902528,"gmtCreate":1627914515764,"gmtModify":1633755311194,"author":{"id":"3575694032718814","authorId":"3575694032718814","name":"clarencejy","avatar":"https://static.tigerbbs.com/3e824bcaf6beda1d092bd5b17a31d123","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575694032718814","authorIdStr":"3575694032718814"},"themes":[],"htmlText":"like my comment","listText":"like my comment","text":"like my comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/804902528","repostId":"1153009016","repostType":4,"repost":{"id":"1153009016","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":1627913861,"share":"https://www.laohunote.com/m/news/1153009016?lang=&edition=full","pubTime":"2021-08-02 22:17","market":"us","language":"en","title":"China stocks mixed in morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1153009016","media":"Tiger Newspress","summary":"(August 2) China stocks mixed in morning trading.","content":"<p>(August 2)&nbsp;China stocks mixed in morning trading.</p>\n<p><img src=\"https://static.tigerbbs.com/74d170328ae7478d6a6db2132ced78bc\" tg-width=\"315\" tg-height=\"716\" width=\"100%\" height=\"auto\"></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>China stocks mixed in morning trading</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; 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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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina stocks mixed in morning trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\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\">2021-08-02 22:17</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(August 2)&nbsp;China stocks mixed in morning trading.</p>\n<p><img src=\"https://static.tigerbbs.com/74d170328ae7478d6a6db2132ced78bc\" tg-width=\"315\" tg-height=\"716\" width=\"100%\" height=\"auto\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153009016","content_text":"(August 2) China stocks mixed in morning trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":317,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808916666,"gmtCreate":1627550646055,"gmtModify":1633763895802,"author":{"id":"3575694032718814","authorId":"3575694032718814","name":"clarencejy","avatar":"https://static.tigerbbs.com/3e824bcaf6beda1d092bd5b17a31d123","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575694032718814","authorIdStr":"3575694032718814"},"themes":[],"htmlText":"Like this","listText":"Like this","text":"Like this","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/808916666","repostId":"2155990524","repostType":4,"isVote":1,"tweetType":1,"viewCount":481,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809642603,"gmtCreate":1627368867602,"gmtModify":1633765660736,"author":{"id":"3575694032718814","authorId":"3575694032718814","name":"clarencejy","avatar":"https://static.tigerbbs.com/3e824bcaf6beda1d092bd5b17a31d123","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575694032718814","authorIdStr":"3575694032718814"},"themes":[],"htmlText":"Like this","listText":"Like this","text":"Like this","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/809642603","repostId":"1145674771","repostType":4,"isVote":1,"tweetType":1,"viewCount":390,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809648171,"gmtCreate":1627368747093,"gmtModify":1633765661666,"author":{"id":"3575694032718814","authorId":"3575694032718814","name":"clarencejy","avatar":"https://static.tigerbbs.com/3e824bcaf6beda1d092bd5b17a31d123","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575694032718814","authorIdStr":"3575694032718814"},"themes":[],"htmlText":"Like this","listText":"Like this","text":"Like this","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/809648171","repostId":"1181332154","repostType":4,"repost":{"id":"1181332154","kind":"news","pubTimestamp":1627368703,"share":"https://www.laohunote.com/m/news/1181332154?lang=&edition=full","pubTime":"2021-07-27 14:51","market":"us","language":"en","title":"Intel Sets Plan to Again Become World’s Premier Chip Company","url":"https://stock-news.laohu8.com/highlight/detail?id=1181332154","media":"The Wall Street Journal","summary":"CEO Pat Gelsinger maps path to catch up with Asian rivals with series of increasingly powerful chips featuring tinier transistors","content":"<p>The race is on at&nbsp;Intel&nbsp;Corp.as the semiconductor giant pledges to return to the top of its game, committing to produce the world’s best chips within four years.</p>\n<p>To get there, Chief Executive Pat Gelsinger laid out a plan Monday for the company to introduce at least a new central processing unit—the brains of the modern computer—every year between 2021 and 2025. Each is expected to be based on transistor technology more advanced than the last.</p>\n<p>Intel was long the unquestioned leader in computing performance. Co-founder Gordon Moore defined the law underpinning the semiconductor industry, describing how engineers would find ways to shrink circuits at a predictable pace year after year. But the company has&nbsp;fallen behind Asian rivals&nbsp;after a series of missteps and delays.</p>\n<p>Taiwan Semiconductor Manufacturing&nbsp;Co.&nbsp;and South Korea’s&nbsp;Samsung Electronics&nbsp;Co.&nbsp;are now both ahead of Intel in chip-manufacturing technology. They manufacture chips on contract for chip-design specialists, allowing those customers to gain an edge on Intel.</p>\n<p>“We are accelerating our innovation roadmap to ensure we are on a clear path to process performance leadership by 2025,” Mr. Gelsinger said. The CEO&nbsp;rejoined Intel in February&nbsp;with a mandate to revitalize the company after previously serving as its chief technology officer.</p>\n<p>The plan signals that Intel doesn’t believe in the near-term demise of Moore’s Law even as chip-making becomes more costly and technically difficult.</p>\n<p>The company reiterated its intention to release a new CPU for desktop computers this year and one for servers in the first quarter of 2022. Intel earlier this year&nbsp;delayed introducing the server chip&nbsp;to add features, signaling that the path to recovery isn’t without challenges.</p>\n<p>Intel said it plans its next round of personal-computer and server processors in 2023. Those, it said, would fully embrace a new form of circuit-printing called extreme ultraviolet lithography—the kind of cutting-edge tooling needed to produce the tiniest transistors, each a fraction of the width of an average human hair. Transistors are the building blocks of chips, and billions of them are needed to make calculations inside modern laptops, desktop computers and computer servers.</p>\n<p>Further performance improvements and innovations in transistor design should follow through 2025, Intel said.</p>\n<p>By that year, the company said it hopes to introduce chips with transistor technology it is calling Intel 18A, a loose reference to its minuscule size—measured in angstroms rather than nanometers, which are currently used to define transistor size. Intel said it is already working on developing the chip.</p>\n<p>Ann Kelleher, Intel’s general manager of technology development, said the company is on track to meet its goals, citing its embrace of extreme ultraviolet technology, a more streamlined chip-development process and an openness to innovation coming from outside Intel.</p>\n<p>Intel is racing with competitors that also are working on increasingly sophisticated chips. TSMC&nbsp;already has chips in development&nbsp;with smaller transistors than those featured in its currently leading-edge processors.</p>\n<p>Rebuilding Intel’s chip design and production process is only part of Mr. Gelsinger’s plan to revitalize the company. While Intel remains America’s largest chip company by sales,Nvidia&nbsp;Corp.&nbsp;has surpassed it in valuation. Known for its graphics chips, Nvidia has become an investor darling with its bet on some of the hottest fields in technology, such videogaming and artificial intelligence. The company, along with perennial Intel CPU-rival&nbsp;Advanced Micro Devices&nbsp;Inc.,have taken market share from Intel.</p>\n<p>Mr. Gelsinger said in March that Intel would become a leading chip manufacturer,not just for its own needs but also for others. He has committed to investing billions of dollars toward that goal, and&nbsp;Intel is in talks to buy&nbsp;chip-making specialist GlobalFoundries Inc., The Wall Street Journal has reported.</p>\n<p>Intel said it had signed mobile-phone chip company&nbsp;Qualcomm&nbsp;Inc.&nbsp;as a customer for chips due for production in 2024. Qualcomm has been a big user of chips made by TSMC and Samsung.</p>\n<p>To help ensure technology hiccups don’t delay its recovery plan and return to the technological high-ground, Intel will monitor progress at every step, Ms. Kelleher said. “In the areas where we have true risk within a process, we absolutely strive to have a Plan B,” she said. “So if Plan A doesn’t work, we can cut over much more easily.”</p>\n<p>The company also said it was adjusting the naming of its newest transistor technology to better reflect industry standards. Intel’s 10-nanometer chips will now be called Intel 7, and its 7-nanometer chips will be called Intel 4. Years ago, cutting-edge transistor-size numbers referred to actual dimensions, but they lost real-world meaning as the structure of transistors changed.</p>\n<p>Mr. Gelsinger is trying to execute the turnaround during an unprecedented chip shortage,brought on by supercharged demand&nbsp;during the Covid-19 pandemic for videogames, laptops and many other devices. The CEO has projected that outsize demand for semiconductors would continue for years, justifying Intel’s manufacturing capacity. The current global shortage of chips, he added, could take until 2023 to be resolved.</p>\n<p>The situation is also providing somewhat of a tailwind for the company. Intel on Thursday reported second-quarter results that benefited from stronger-than-expected sales in its PC-related chips.</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>Intel Sets Plan to Again Become World’s Premier Chip Company</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIntel Sets Plan to Again Become World’s Premier Chip Company\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-27 14:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/intel-sets-plan-to-again-become-worlds-premier-chip-company-11627333200?mod=hp_lead_pos4><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The race is on at Intel Corp.as the semiconductor giant pledges to return to the top of its game, committing to produce the world’s best chips within four years.\nTo get there, Chief Executive Pat ...</p>\n\n<a href=\"https://www.wsj.com/articles/intel-sets-plan-to-again-become-worlds-premier-chip-company-11627333200?mod=hp_lead_pos4\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"INTC":"英特尔"},"source_url":"https://www.wsj.com/articles/intel-sets-plan-to-again-become-worlds-premier-chip-company-11627333200?mod=hp_lead_pos4","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181332154","content_text":"The race is on at Intel Corp.as the semiconductor giant pledges to return to the top of its game, committing to produce the world’s best chips within four years.\nTo get there, Chief Executive Pat Gelsinger laid out a plan Monday for the company to introduce at least a new central processing unit—the brains of the modern computer—every year between 2021 and 2025. Each is expected to be based on transistor technology more advanced than the last.\nIntel was long the unquestioned leader in computing performance. Co-founder Gordon Moore defined the law underpinning the semiconductor industry, describing how engineers would find ways to shrink circuits at a predictable pace year after year. But the company has fallen behind Asian rivals after a series of missteps and delays.\nTaiwan Semiconductor Manufacturing Co. and South Korea’s Samsung Electronics Co. are now both ahead of Intel in chip-manufacturing technology. They manufacture chips on contract for chip-design specialists, allowing those customers to gain an edge on Intel.\n“We are accelerating our innovation roadmap to ensure we are on a clear path to process performance leadership by 2025,” Mr. Gelsinger said. The CEO rejoined Intel in February with a mandate to revitalize the company after previously serving as its chief technology officer.\nThe plan signals that Intel doesn’t believe in the near-term demise of Moore’s Law even as chip-making becomes more costly and technically difficult.\nThe company reiterated its intention to release a new CPU for desktop computers this year and one for servers in the first quarter of 2022. Intel earlier this year delayed introducing the server chip to add features, signaling that the path to recovery isn’t without challenges.\nIntel said it plans its next round of personal-computer and server processors in 2023. Those, it said, would fully embrace a new form of circuit-printing called extreme ultraviolet lithography—the kind of cutting-edge tooling needed to produce the tiniest transistors, each a fraction of the width of an average human hair. Transistors are the building blocks of chips, and billions of them are needed to make calculations inside modern laptops, desktop computers and computer servers.\nFurther performance improvements and innovations in transistor design should follow through 2025, Intel said.\nBy that year, the company said it hopes to introduce chips with transistor technology it is calling Intel 18A, a loose reference to its minuscule size—measured in angstroms rather than nanometers, which are currently used to define transistor size. Intel said it is already working on developing the chip.\nAnn Kelleher, Intel’s general manager of technology development, said the company is on track to meet its goals, citing its embrace of extreme ultraviolet technology, a more streamlined chip-development process and an openness to innovation coming from outside Intel.\nIntel is racing with competitors that also are working on increasingly sophisticated chips. TSMC already has chips in development with smaller transistors than those featured in its currently leading-edge processors.\nRebuilding Intel’s chip design and production process is only part of Mr. Gelsinger’s plan to revitalize the company. While Intel remains America’s largest chip company by sales,Nvidia Corp. has surpassed it in valuation. Known for its graphics chips, Nvidia has become an investor darling with its bet on some of the hottest fields in technology, such videogaming and artificial intelligence. The company, along with perennial Intel CPU-rival Advanced Micro Devices Inc.,have taken market share from Intel.\nMr. Gelsinger said in March that Intel would become a leading chip manufacturer,not just for its own needs but also for others. He has committed to investing billions of dollars toward that goal, and Intel is in talks to buy chip-making specialist GlobalFoundries Inc., The Wall Street Journal has reported.\nIntel said it had signed mobile-phone chip company Qualcomm Inc. as a customer for chips due for production in 2024. Qualcomm has been a big user of chips made by TSMC and Samsung.\nTo help ensure technology hiccups don’t delay its recovery plan and return to the technological high-ground, Intel will monitor progress at every step, Ms. Kelleher said. “In the areas where we have true risk within a process, we absolutely strive to have a Plan B,” she said. “So if Plan A doesn’t work, we can cut over much more easily.”\nThe company also said it was adjusting the naming of its newest transistor technology to better reflect industry standards. Intel’s 10-nanometer chips will now be called Intel 7, and its 7-nanometer chips will be called Intel 4. Years ago, cutting-edge transistor-size numbers referred to actual dimensions, but they lost real-world meaning as the structure of transistors changed.\nMr. Gelsinger is trying to execute the turnaround during an unprecedented chip shortage,brought on by supercharged demand during the Covid-19 pandemic for videogames, laptops and many other devices. The CEO has projected that outsize demand for semiconductors would continue for years, justifying Intel’s manufacturing capacity. The current global shortage of chips, he added, could take until 2023 to be resolved.\nThe situation is also providing somewhat of a tailwind for the company. Intel on Thursday reported second-quarter results that benefited from stronger-than-expected sales in its PC-related chips.","news_type":1},"isVote":1,"tweetType":1,"viewCount":433,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":800373337,"gmtCreate":1627282445329,"gmtModify":1633766545983,"author":{"id":"3575694032718814","authorId":"3575694032718814","name":"clarencejy","avatar":"https://static.tigerbbs.com/3e824bcaf6beda1d092bd5b17a31d123","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575694032718814","authorIdStr":"3575694032718814"},"themes":[],"htmlText":"Like my comment","listText":"Like my comment","text":"Like my comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/800373337","repostId":"1100772026","repostType":4,"isVote":1,"tweetType":1,"viewCount":366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177637555,"gmtCreate":1627207417977,"gmtModify":1633767159569,"author":{"id":"3575694032718814","authorId":"3575694032718814","name":"clarencejy","avatar":"https://static.tigerbbs.com/3e824bcaf6beda1d092bd5b17a31d123","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575694032718814","authorIdStr":"3575694032718814"},"themes":[],"htmlText":"Like this","listText":"Like this","text":"Like this","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/177637555","repostId":"1176552691","repostType":4,"repost":{"id":"1176552691","kind":"news","pubTimestamp":1627183789,"share":"https://www.laohunote.com/m/news/1176552691?lang=&edition=full","pubTime":"2021-07-25 11:29","market":"us","language":"en","title":"Is IBM Stock Undervalued Or Overvalued? What To Consider","url":"https://stock-news.laohu8.com/highlight/detail?id=1176552691","media":"seekingalpha","summary":"Summary\n\nIBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.","content":"<p><b>Summary</b></p>\n<ul>\n <li>IBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.</li>\n <li>Prior to Q1, IBM posted declining revenue for four consecutive quarters, and 30 of the last 34 quarters.</li>\n <li>More transparency is needed regarding the Kyndryl spinoff.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2c798e0536c6804d44b195f6f349fab5\" tg-width=\"1536\" tg-height=\"1044\" width=\"100%\" height=\"auto\"><span>Ethan Miller/Getty Images News</span></p>\n<p>International Business Machines Corporation (IBM) is a company in transition. Unfortunately for investors, the transition has been in place for the better part of a decade. Those turnaround efforts include investments in cloud computing and artificial intelligence and the divestiture of legacy businesses. While there are now signs of green shoots, it is yet to be seen as to whether the seeds sown have fallen on rocky ground.</p>\n<p>Although the company has a rapidly growing business in hybrid cloud offerings, and a potential growth engine in quantum computing, it faces intense competition in the former industry and uncertain prospects in the latter. Most of the firm’s other businesses are in the doldrums, so IBM’s growth prospects are opaque.</p>\n<p>What is certain is that as of today, IBM has a reasonable and diminishing debt load and strong free cash flow.</p>\n<p>Management is attempting to address growth concerns in part by focusing on the firm’s cloud offerings, while it spins off its managed infrastructure business. That company will be named Kyndryl. However, the debt which the new entity will shoulder, along with the portion of the current dividend that it will carry, has not been divulged.</p>\n<p><b>Recent Quarterly Results</b></p>\n<p>IBM&nbsp;reported&nbsp;Q2 results last Monday. With non-GAAP EPS of $2.33, the company beat estimates by $0.04.</p>\n<p>Revenue of $18.7 billion was flat when adjusted for currency and divestitures.</p>\n<p>The negative side of the report had Systems revenue declining by 7%. However, this was largely due to the normal IBM Z mainframe cycle, down 13% year over year.</p>\n<p>The global financing division, which represents a low single digit percentage of overall revenues, was down 9%. Global technology services, which represents roughly a third of overall revenue and will largely be spun off as Kyndryl, had flattish growth.</p>\n<p>The positive side of the report had Cloud &amp; Cognitive Software cloud revenue up 29% and Global Business Services cloud revenue up 35%. Total cloud revenue of $27 billion increased by 15% over the last 12 months, while cloud revenue grew 13% in the quarter to $7.0 billion.</p>\n<p>Net cash from operating activities hit $17.7 billion, and adjusted free cash flow totaled $11 billion over the last 12 months.</p>\n<p>Since year-end 2020, the company has reduced debt by $6.4 billion.</p>\n<p>Management guides for adjusted free cash flow of $11 billion to $12 billion in 2021.</p>\n<p><b>Where IBM Stands Tall</b></p>\n<p>IBM is viewed by many as at best a third rate IT company and at worst as a dinosaur, headed towards extinction.</p>\n<p>It is evident that the company’s revenues have declined for years; however, to accurately assess the stock, investors must understand that IBM’s legacy businesses have many strengths.</p>\n<p>For example, IBM is the world’s largest IT services company and the dominant provider of mainframes. Among the Fortune 50 companies, 47 are IBM clients.</p>\n<p>Half of the world’s wireless connections are handled by the firm.</p>\n<p>IBM's mainframe systems process nearly 90% of the globe’s credit card transactions, and 97% of the world's largest banks rely on IBM products and services. Consequently, twenty-nine billion ATM transactions are processed annually using IBM systems.</p>\n<p>Eight out of 10 global retailers rely on IBM products and services while 80% of the travel industry's reservations run through IBM systems. That results in 4 billion flight reservations being processed using the company’s IT services.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7ace4f1436fd2697c5ad266b5017e1dd\" tg-width=\"960\" tg-height=\"721\" width=\"100%\" height=\"auto\"><span>Source: Forbes</span></p>\n<p>It is evident that IBM has a massive customer base that provides large scale recurring revenues. In many cases, moving to competitors' offerings would mean risking the transfer of sensitive information, a move many are not willing to take.</p>\n<p>However, with the transition to cloud services and open source software, there is an increased adoption by firms of mix and match IT infrastructures. In turn, this is eroding IBM’s competitive advantage associated with customer switching costs.</p>\n<p><b>The Sources Of Potential Growth</b></p>\n<p>Investors are generally aware of IBM's effort to drive growth through its hybrid cloud offerings. However, when questioned at JPMorgan’s recent investor conference, CFO Jim Kavanaugh&nbsp;provided insight&nbsp;into how hybrid cloud drives revenue in some of IBM’s other divisions.</p>\n<blockquote>\n For every $1 (in business) we land on a hybrid cloud platform, we see $3 to $5 of software drag and $6 to $8 of services drag overall.\n</blockquote>\n<p>Of course, Kavanaugh is using drag to refer to increased revenue in software and services associated with adoption of IBM’s hybrid cloud. If Kavanaugh’s claims are accurate, that means every dollar spent on the company’s hybrid cloud platform translates into $9 to $13 in additional revenue from the firm’s software and services offerings.</p>\n<p>Because hybrid cloud uses a mix of on-premises private cloud and public cloud services, it offers clients a degree of data privacy. This is of particular concern for customers in healthcare and financial services. Consequently, I would posit that IBM might have an advantage in competing with other hybrid cloud providers as it has extensive relationships within those industries.</p>\n<p>I reviewed a variety of prognostications regarding projected growth rates for the hybrid cloud market. The most recent study, which also falls in the middle of other predictions, is by Mordor Intelligence. That firm&nbsp;forecasts&nbsp;a CAGR of 18.73% from 2021 through 2026.</p>\n<p>Investors should be aware that the major operators in this space are Cisco (CSCO), Hewlett Packard (HPE), Amazon (AMZN), Citrix Systems (CTXS), and IBM.</p>\n<p>The following chart provides a record of the firm’s total cloud growth over the last six quarters.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5fc85156e70f6caf8ae809f76126a723\" tg-width=\"576\" tg-height=\"336\" width=\"100%\" height=\"auto\"><span>Source: Company reports / Chart by Author</span></p>\n<p>Aside from cloud, there is another source of potential growth, although it is unlikely to materialize soon.</p>\n<p>Early in 2019, IBM&nbsp;introduced&nbsp;the Q System One. IBM Q systems are the world's first quantum computer designed for scientific and commercial use.</p>\n<p>Pardon the pun, but quantum computers represent a quantum leap in technology. Prescient And Strategic Intelligence&nbsp;forecasts&nbsp;a CAGR of 56% for the industry through 2030 with the quantum computer market share reaching nearly $65 billion.</p>\n<p>For additional insights regarding quantum computing and IBM’s position within that industry, I point you to&nbsp;my article, “IBM: Why My Eye Is Fixed On Big Blue.”</p>\n<p><b>Understanding Kyndryl</b></p>\n<p>Once&nbsp;Kyndryl&nbsp;is launched, it will have more than 90,000 employees and more than 4,600 customers in 115 countries. With a $60 billion services backlog, the new entity will begin with projected revenues of $19 billion. At twice the size of its closest competitor, the company will be the world’s largest managed infrastructure services provider.</p>\n<p>The split will&nbsp;transform&nbsp;IBM from a company that pulls half of its revenue from services to a firm with its software and solutions businesses generating over half of its revenue on a recurring basis.</p>\n<p>Global Business Services, which currently constitutes 22% of the company’s revenue, will&nbsp;account&nbsp;for over 40% of sales. Here it is important to note that the division grew revenue by 12% year over year in the last quarter.</p>\n<p>IBM will retain Red Hat and its solution provider business, the systems businesses, and its mission-critical public cloud service, and a software portfolio focused on big data, AI, and security.</p>\n<p>Initially, the two companies will each be the largest customer of the other.</p>\n<p>What remains to be known regarding the spinoff is how much debt each company will shoulder, and the share of the dividend that the companies will pay. Krishna stated the two companies will work together to sustain the current payout level.</p>\n<p><b>Has IBM Turned The Corner?</b></p>\n<p>Anyone who follows IBM knows the company has experienced an extended period of poor results. The following chart provides a record of the firm’s quarterly FCF over the last fourteen quarters.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/60cc8b82052f97dd449205999ee30711\" tg-width=\"577\" tg-height=\"337\" width=\"100%\" height=\"auto\"><span>Source: Data from ycharts / chart by author</span></p>\n<p>While this is not proof positive that the company is back on track, the recent trend is at least encouraging.</p>\n<p>In 2020, IBM generated $10.8 billion in free cash flow. Management guides for adjusted free cash flow of $11 billion to $12 billion in 2021. This excludes $3 billion in structural impacts related to the Kyndryl spinoff.</p>\n<p>The CEO&nbsp;recently stated&nbsp;he expects IBM to generate $12 billion to $13 billion in FCF in 2022.</p>\n<p><b>Debt And Dividend</b></p>\n<p>While investors can rightfully complain of a variety of management moves over the years, the firm has maintained a reasonable debt profile while engaging in a number of acquisitions.</p>\n<p>The company has reduced the debt by roughly $18 billion since its peak in mid-2019. IBM maintains an investment level credit rating, and the following chart provides a record of the company’s progress paying down debt of late.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b73e613157c486a5f5e8306546121971\" tg-width=\"1280\" tg-height=\"720\" width=\"100%\" height=\"auto\"><span>Source: IBM Presentation</span></p>\n<p>IBM has a yield of 4.64%, a payout ratio a bit below 61%, and a 5 year dividend growth rate of 4.26%. As previously noted, following the spinoff of Kyndryl, the two companies will team to provide a payout equivalent to the current dividend.</p>\n<p><b>Is IBM Stock Overvalued?</b></p>\n<p>IBM shares trade for $141.13. The average 12 month price target of 8 analysts is $153.50. The price target of the 3 analysts rating the stock since the last earnings report is $151.33.</p>\n<p>IBM has a P/E of 24.05x and a forward P/E of 17.67x. This compares to its five year averages of 16.42x and 13.25x respectively. It is well below the sector average which is in the low thirties for both metrics.</p>\n<p>The 3 to 5 year PEG provided by Seeking Alpha Premium is 1.16x. Schwab calculates a PEG of 1.49x, and Yahoo does not provide a PEG ratio.</p>\n<p>I believe the current P/E ratios for the stock reflect investors anticipating increased growth for IBM once the spinoff is complete. The PEG ratios show the stock is reasonably valued.</p>\n<p><b>Is IBM Stock A Good Long-Term Investment?</b></p>\n<p>IBM has an entrenched but evolving position among many of the largest companies on the globe. Unfortunately, the cloud, which is seen as the company’s primary avenue for growth, could also lead to a slow deterioration in some of the firm’s legacy businesses.</p>\n<p>That the cloud business has been growing at a rapid pace is manifest: IBM can now boast of over 3,200 clients using the firm’s hybrid cloud platform. That is nearly four times the number just prior to the Red Hat acquisition.</p>\n<p>If management’s claims are accurate, the hybrid cloud platform will create robust growth in the software and services division’s revenues. When combined with the spinoff of Kyndryl’s slow growing managed infrastructure services business, it is reasonable to believe IBM will witness increased growth.</p>\n<p>IBM has a solid balance sheet, a robust yield, and when viewed using PEG ratios as a basis for valuing the stock, the shares are trading at a bit of a discount.</p>\n<p>All considered, I rate IBM as a BUY.</p>\n<p>I think the worst case short to mid-term scenario is that the company experiences slow growth while investors collect a rather robust dividend.</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>Is IBM Stock Undervalued Or Overvalued? 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What To Consider\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-25 11:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4440996-is-ibm-stock-undervalued-overvalued><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nIBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.\nPrior to Q1, IBM posted declining revenue for four consecutive quarters, and 30 of the last 34 ...</p>\n\n<a href=\"https://seekingalpha.com/article/4440996-is-ibm-stock-undervalued-overvalued\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IBM":"IBM"},"source_url":"https://seekingalpha.com/article/4440996-is-ibm-stock-undervalued-overvalued","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176552691","content_text":"Summary\n\nIBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.\nPrior to Q1, IBM posted declining revenue for four consecutive quarters, and 30 of the last 34 quarters.\nMore transparency is needed regarding the Kyndryl spinoff.\n\nEthan Miller/Getty Images News\nInternational Business Machines Corporation (IBM) is a company in transition. Unfortunately for investors, the transition has been in place for the better part of a decade. Those turnaround efforts include investments in cloud computing and artificial intelligence and the divestiture of legacy businesses. While there are now signs of green shoots, it is yet to be seen as to whether the seeds sown have fallen on rocky ground.\nAlthough the company has a rapidly growing business in hybrid cloud offerings, and a potential growth engine in quantum computing, it faces intense competition in the former industry and uncertain prospects in the latter. Most of the firm’s other businesses are in the doldrums, so IBM’s growth prospects are opaque.\nWhat is certain is that as of today, IBM has a reasonable and diminishing debt load and strong free cash flow.\nManagement is attempting to address growth concerns in part by focusing on the firm’s cloud offerings, while it spins off its managed infrastructure business. That company will be named Kyndryl. However, the debt which the new entity will shoulder, along with the portion of the current dividend that it will carry, has not been divulged.\nRecent Quarterly Results\nIBM reported Q2 results last Monday. With non-GAAP EPS of $2.33, the company beat estimates by $0.04.\nRevenue of $18.7 billion was flat when adjusted for currency and divestitures.\nThe negative side of the report had Systems revenue declining by 7%. However, this was largely due to the normal IBM Z mainframe cycle, down 13% year over year.\nThe global financing division, which represents a low single digit percentage of overall revenues, was down 9%. Global technology services, which represents roughly a third of overall revenue and will largely be spun off as Kyndryl, had flattish growth.\nThe positive side of the report had Cloud & Cognitive Software cloud revenue up 29% and Global Business Services cloud revenue up 35%. Total cloud revenue of $27 billion increased by 15% over the last 12 months, while cloud revenue grew 13% in the quarter to $7.0 billion.\nNet cash from operating activities hit $17.7 billion, and adjusted free cash flow totaled $11 billion over the last 12 months.\nSince year-end 2020, the company has reduced debt by $6.4 billion.\nManagement guides for adjusted free cash flow of $11 billion to $12 billion in 2021.\nWhere IBM Stands Tall\nIBM is viewed by many as at best a third rate IT company and at worst as a dinosaur, headed towards extinction.\nIt is evident that the company’s revenues have declined for years; however, to accurately assess the stock, investors must understand that IBM’s legacy businesses have many strengths.\nFor example, IBM is the world’s largest IT services company and the dominant provider of mainframes. Among the Fortune 50 companies, 47 are IBM clients.\nHalf of the world’s wireless connections are handled by the firm.\nIBM's mainframe systems process nearly 90% of the globe’s credit card transactions, and 97% of the world's largest banks rely on IBM products and services. Consequently, twenty-nine billion ATM transactions are processed annually using IBM systems.\nEight out of 10 global retailers rely on IBM products and services while 80% of the travel industry's reservations run through IBM systems. That results in 4 billion flight reservations being processed using the company’s IT services.\nSource: Forbes\nIt is evident that IBM has a massive customer base that provides large scale recurring revenues. In many cases, moving to competitors' offerings would mean risking the transfer of sensitive information, a move many are not willing to take.\nHowever, with the transition to cloud services and open source software, there is an increased adoption by firms of mix and match IT infrastructures. In turn, this is eroding IBM’s competitive advantage associated with customer switching costs.\nThe Sources Of Potential Growth\nInvestors are generally aware of IBM's effort to drive growth through its hybrid cloud offerings. However, when questioned at JPMorgan’s recent investor conference, CFO Jim Kavanaugh provided insight into how hybrid cloud drives revenue in some of IBM’s other divisions.\n\n For every $1 (in business) we land on a hybrid cloud platform, we see $3 to $5 of software drag and $6 to $8 of services drag overall.\n\nOf course, Kavanaugh is using drag to refer to increased revenue in software and services associated with adoption of IBM’s hybrid cloud. If Kavanaugh’s claims are accurate, that means every dollar spent on the company’s hybrid cloud platform translates into $9 to $13 in additional revenue from the firm’s software and services offerings.\nBecause hybrid cloud uses a mix of on-premises private cloud and public cloud services, it offers clients a degree of data privacy. This is of particular concern for customers in healthcare and financial services. Consequently, I would posit that IBM might have an advantage in competing with other hybrid cloud providers as it has extensive relationships within those industries.\nI reviewed a variety of prognostications regarding projected growth rates for the hybrid cloud market. The most recent study, which also falls in the middle of other predictions, is by Mordor Intelligence. That firm forecasts a CAGR of 18.73% from 2021 through 2026.\nInvestors should be aware that the major operators in this space are Cisco (CSCO), Hewlett Packard (HPE), Amazon (AMZN), Citrix Systems (CTXS), and IBM.\nThe following chart provides a record of the firm’s total cloud growth over the last six quarters.\nSource: Company reports / Chart by Author\nAside from cloud, there is another source of potential growth, although it is unlikely to materialize soon.\nEarly in 2019, IBM introduced the Q System One. IBM Q systems are the world's first quantum computer designed for scientific and commercial use.\nPardon the pun, but quantum computers represent a quantum leap in technology. Prescient And Strategic Intelligence forecasts a CAGR of 56% for the industry through 2030 with the quantum computer market share reaching nearly $65 billion.\nFor additional insights regarding quantum computing and IBM’s position within that industry, I point you to my article, “IBM: Why My Eye Is Fixed On Big Blue.”\nUnderstanding Kyndryl\nOnce Kyndryl is launched, it will have more than 90,000 employees and more than 4,600 customers in 115 countries. With a $60 billion services backlog, the new entity will begin with projected revenues of $19 billion. At twice the size of its closest competitor, the company will be the world’s largest managed infrastructure services provider.\nThe split will transform IBM from a company that pulls half of its revenue from services to a firm with its software and solutions businesses generating over half of its revenue on a recurring basis.\nGlobal Business Services, which currently constitutes 22% of the company’s revenue, will account for over 40% of sales. Here it is important to note that the division grew revenue by 12% year over year in the last quarter.\nIBM will retain Red Hat and its solution provider business, the systems businesses, and its mission-critical public cloud service, and a software portfolio focused on big data, AI, and security.\nInitially, the two companies will each be the largest customer of the other.\nWhat remains to be known regarding the spinoff is how much debt each company will shoulder, and the share of the dividend that the companies will pay. Krishna stated the two companies will work together to sustain the current payout level.\nHas IBM Turned The Corner?\nAnyone who follows IBM knows the company has experienced an extended period of poor results. The following chart provides a record of the firm’s quarterly FCF over the last fourteen quarters.\nSource: Data from ycharts / chart by author\nWhile this is not proof positive that the company is back on track, the recent trend is at least encouraging.\nIn 2020, IBM generated $10.8 billion in free cash flow. Management guides for adjusted free cash flow of $11 billion to $12 billion in 2021. This excludes $3 billion in structural impacts related to the Kyndryl spinoff.\nThe CEO recently stated he expects IBM to generate $12 billion to $13 billion in FCF in 2022.\nDebt And Dividend\nWhile investors can rightfully complain of a variety of management moves over the years, the firm has maintained a reasonable debt profile while engaging in a number of acquisitions.\nThe company has reduced the debt by roughly $18 billion since its peak in mid-2019. IBM maintains an investment level credit rating, and the following chart provides a record of the company’s progress paying down debt of late.\nSource: IBM Presentation\nIBM has a yield of 4.64%, a payout ratio a bit below 61%, and a 5 year dividend growth rate of 4.26%. As previously noted, following the spinoff of Kyndryl, the two companies will team to provide a payout equivalent to the current dividend.\nIs IBM Stock Overvalued?\nIBM shares trade for $141.13. The average 12 month price target of 8 analysts is $153.50. The price target of the 3 analysts rating the stock since the last earnings report is $151.33.\nIBM has a P/E of 24.05x and a forward P/E of 17.67x. This compares to its five year averages of 16.42x and 13.25x respectively. It is well below the sector average which is in the low thirties for both metrics.\nThe 3 to 5 year PEG provided by Seeking Alpha Premium is 1.16x. Schwab calculates a PEG of 1.49x, and Yahoo does not provide a PEG ratio.\nI believe the current P/E ratios for the stock reflect investors anticipating increased growth for IBM once the spinoff is complete. The PEG ratios show the stock is reasonably valued.\nIs IBM Stock A Good Long-Term Investment?\nIBM has an entrenched but evolving position among many of the largest companies on the globe. Unfortunately, the cloud, which is seen as the company’s primary avenue for growth, could also lead to a slow deterioration in some of the firm’s legacy businesses.\nThat the cloud business has been growing at a rapid pace is manifest: IBM can now boast of over 3,200 clients using the firm’s hybrid cloud platform. That is nearly four times the number just prior to the Red Hat acquisition.\nIf management’s claims are accurate, the hybrid cloud platform will create robust growth in the software and services division’s revenues. When combined with the spinoff of Kyndryl’s slow growing managed infrastructure services business, it is reasonable to believe IBM will witness increased growth.\nIBM has a solid balance sheet, a robust yield, and when viewed using PEG ratios as a basis for valuing the stock, the shares are trading at a bit of a discount.\nAll considered, I rate IBM as a BUY.\nI think the worst case short to mid-term scenario is that the company experiences slow growth while investors collect a rather robust dividend.","news_type":1},"isVote":1,"tweetType":1,"viewCount":424,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174461110,"gmtCreate":1627127652530,"gmtModify":1633767762846,"author":{"id":"3575694032718814","authorId":"3575694032718814","name":"clarencejy","avatar":"https://static.tigerbbs.com/3e824bcaf6beda1d092bd5b17a31d123","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575694032718814","authorIdStr":"3575694032718814"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/174461110","repostId":"1151500518","repostType":4,"repost":{"id":"1151500518","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":1627092269,"share":"https://www.laohunote.com/m/news/1151500518?lang=&edition=full","pubTime":"2021-07-24 10:04","market":"us","language":"en","title":"Tencent was ordered to remove the exclusive copyright of online music","url":"https://stock-news.laohu8.com/highlight/detail?id=1151500518","media":"Tiger Newspress","summary":"The China market supervision administration made an administrative punishment decision according to ","content":"<p>The China market supervision administration made an administrative punishment decision according to law, ordering Tencent and its affiliated companies to take measures to restore the state of market competition, such as canceling the exclusive music copyright within 30 days, stopping the payment of copyright fees such as high prepayment, and not requiring the upstream copyright party to give conditions superior to its competitors without justified reasons. Tencent will report the performance of its obligations to the State Administration of market supervision every year within three years, and the State Administration of market supervision will strictly supervise its implementation according to law.</p>\n<p>This case is the first case in which necessary measures have been taken to restore the state of market competition for the illegal implementation of business concentration since the implementation of China's anti-monopoly law.</p>\n<p>Tencent responded that the company will seriously abide by the decision, strictly implement the regulatory requirements, operate in accordance with the law, earnestly fulfill its social responsibility and maintain benign competition in the market. Tencent will take full responsibility, formulate rectification measures and plans with Tencent music and other affiliated companies within the specified time limit, and complete them completely in accordance with the requirements of the punishment decision to ensure that the rectification is in place.</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>Tencent was ordered to remove the exclusive copyright of online music</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nTencent was ordered to remove the exclusive copyright of online music\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\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\">2021-07-24 10:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>The China market supervision administration made an administrative punishment decision according to law, ordering Tencent and its affiliated companies to take measures to restore the state of market competition, such as canceling the exclusive music copyright within 30 days, stopping the payment of copyright fees such as high prepayment, and not requiring the upstream copyright party to give conditions superior to its competitors without justified reasons. Tencent will report the performance of its obligations to the State Administration of market supervision every year within three years, and the State Administration of market supervision will strictly supervise its implementation according to law.</p>\n<p>This case is the first case in which necessary measures have been taken to restore the state of market competition for the illegal implementation of business concentration since the implementation of China's anti-monopoly law.</p>\n<p>Tencent responded that the company will seriously abide by the decision, strictly implement the regulatory requirements, operate in accordance with the law, earnestly fulfill its social responsibility and maintain benign competition in the market. Tencent will take full responsibility, formulate rectification measures and plans with Tencent music and other affiliated companies within the specified time limit, and complete them completely in accordance with the requirements of the punishment decision to ensure that the rectification is in place.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"00700":"腾讯控股","TME":"腾讯音乐"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151500518","content_text":"The China market supervision administration made an administrative punishment decision according to law, ordering Tencent and its affiliated companies to take measures to restore the state of market competition, such as canceling the exclusive music copyright within 30 days, stopping the payment of copyright fees such as high prepayment, and not requiring the upstream copyright party to give conditions superior to its competitors without justified reasons. Tencent will report the performance of its obligations to the State Administration of market supervision every year within three years, and the State Administration of market supervision will strictly supervise its implementation according to law.\nThis case is the first case in which necessary measures have been taken to restore the state of market competition for the illegal implementation of business concentration since the implementation of China's anti-monopoly law.\nTencent responded that the company will seriously abide by the decision, strictly implement the regulatory requirements, operate in accordance with the law, earnestly fulfill its social responsibility and maintain benign competition in the market. Tencent will take full responsibility, formulate rectification measures and plans with Tencent music and other affiliated companies within the specified time limit, and complete them completely in accordance with the requirements of the punishment decision to ensure that the rectification is in place.","news_type":1},"isVote":1,"tweetType":1,"viewCount":308,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174931046,"gmtCreate":1627056325185,"gmtModify":1633768350435,"author":{"id":"3575694032718814","authorId":"3575694032718814","name":"clarencejy","avatar":"https://static.tigerbbs.com/3e824bcaf6beda1d092bd5b17a31d123","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575694032718814","authorIdStr":"3575694032718814"},"themes":[],"htmlText":"Like this","listText":"Like this","text":"Like this","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/174931046","repostId":"2153983997","repostType":4,"isVote":1,"tweetType":1,"viewCount":427,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"following","isTTM":false}