177.02 -0.46 (-0.26%)
After hours: 5:55PM EST
|Bid||175.35 x 900|
|Ask||177.18 x 1800|
|Day's Range||175.35 - 179.93|
|52 Week Range||175.35 - 284.22|
|Beta (3Y Monthly)||1.27|
|PE Ratio (TTM)||13.83|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
In the previous part of this article, we discussed why the popular research firm Citron Research recommended a “buy” on NIO (NIO) on November 19. Overall, four out of ten total Wall Street analysts covering the company rated it as a “buy.” However, these analysts’ consensus target on NIO reflected only 0.4% upside potential from its November 19 closing price. The stock has rallied lately, and it was trading with 32.9% month-to-date gains, so Wall Street analysts might choose to update their target price on NIO in the coming weeks.
Alphabet’s (GOOGL) Waymo is planning to launch its self-driving taxi service in the coming months, the unit’s CEO, John Krafcik, said at the Wall Street Journal’s WSJ Tech D.Live conference earlier this month. On its third-quarter earnings conference call last month, Alphabet said Waymo has begun testing pricing models for its self-driving taxi service before it launches on a commercial basis. While Waymo’s CEO has talked about the company’s self-driving service launching in the coming months—which could mean early next year—a source with knowledge of Waymo’s plans recently told Bloomberg that the launch is set for next month.
NIO started its journey on Wall Street with an underwhelming response from investors with an IPO priced at $6.26 per ADS (American depositary shares) on September 12. On its second trading day, the stock jumped nearly 76% to $11.60, its all-time high on a closing basis. These gains didn’t last for long, and NIO ended October at $5.90. Nonetheless, NIO seems to be readying itself for greater heights in November. Let’s take a closer look.
Uxin (UXIN), China’s largest used car e-commerce platform, announced its third-quarter earnings results before the market opened on November 20. In the third quarter, Uxin’s adjusted net earnings fell to -517.0 million Chinese yuan (-$75.2 million) from -434.1 million yuan (-$65.6 million) in the second quarter. The company missed analysts’ expectation of -472 million yuan in adjusted net earnings in the third quarter.
Twitter’s (TWTR) price-to-sales ratio for the trailing 12 months (or TTM) stands at 8.63x compared to the industry average of 5.59x and the sector’s average of 204.51x.
According to the Bank of America Merrill Lynch Survey for November, the so-called FAANG and BAT stocks—the US stocks Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), and Google (GOOGL) and China’s Baidu (BIDU), Alibaba (BABA), and Tencent (TCEHY)—remained the most crowded trade for the tenth consecutive month. However, investors’ sentiment seems to be shifting, as only 29% of the respondents determined them to be the most crowded trades as compared to 32% last month and 36% a month before that. ...
Facebook’s (FB) Portal device went on sale earlier this month, opening a new revenue stream for the company. The Portal expands Facebook’s non-advertising business, which already consists of the sale of virtual reality headsets and the Workplace corporate networking service. Facebook’s non-advertising revenue increased only 1.0% year-over-year to $188 million in the third quarter, suggesting the business needs a boost.
In recent times, Japan has emerged as Twitter’s strongest growth engine. Twitter’s Japan revenue increased 44% YoY (year-over-year) to $130 million in the third quarter with growth accelerating from 23% a year earlier. Twitter’s growth in Japan outpaced the 28% YoY growth in the United States and 29% YoY growth worldwide in the third quarter.
The iShares China Large-Cap ETF (NYSEARCA:FXI) is down 15% year-to-date. The White House has already levied a 10% tariff on $250 billion of goods, which will go up to 25% this January. Just this weekend, Vice President Pence noted that the White House is willing to more than double these tariffs.
Is There More Heat Left in Freeport-McMoRan’s Rally? Copper has the ability to predict global economic activity. Copper’s diverse usage from automotive to industrials makes it a better indicator of the global economy compared to some of the other metals.
When it comes to valuation ratios, Facebook’s (FB) price-to-sales ratio for the trailing 12 months (or TTM) stands at 15.08x compared to the industry average of 8.36x and the sector’s average of 2.87x. Facebook’s price-to-book ratio stands at 7.52x compared to the industry average of 6.15x and the sector’s average of 2.48x. Facebook’s price-to-tangible-book value stands at 10.83x compared to its industry average of 10.01x and sector average of 3.99x.
The stock of Chinese (FXI) Internet giant JD.com (JD) fell 4.8% on November 16. The stock closed trading at $23.05, which is 55% below its 52-week high of $50.68. JD.com has lost approximately $34 billion in market value this year. JD.com stock has now declined 2% in November 2018, 12% since October 2018, and 44% since the start of 2018.
HomePod is starting to have a noticeable effect on Apple’s (AAPL) hardware side business. While discussing the company’s fiscal 2018 fourth-quarter results last month, Apple CFO Luca Maestri said that HomePod was a driving force behind the company’s record Other Products revenue in the quarter.
The fact that China’s iQiyi (NASDAQ:IQ) is being compared to Netflix (NASDAQ:NFLX) is an accolade in and of itself. Netflix dominates the western hemisphere’s OTTV market. IQ stock, however, has been uncomfortably tough to stick with after its post-IPO peak in June.
In the previous part of this series, we looked at why China’s light vehicle sales continued to fall on a YoY (year-over-year) basis for the fourth straight month in October. In the first ten months of 2018, China’s (MCHI) auto sales have fallen marginally by 0.06% YoY to 22.9 million units. Total US light vehicle sales stood at about 1.36 million units in October, according to data compiled by MarkLines Data Center, up 0.1% year-over-year. ...
There are currently over 100 Chinese companies listed on the Nasdaq Exchange, many of which have low profiles to U.S. investors. Haitong wants to change that.
Chinese electric car maker NIO (NIO), popularly known as China’s Tesla (TSLA) killer, has been breaking the rules of market gravity. Meanwhile, companies (XLY) such as General Motors (GM) and Ford Motor Company (F) have fallen 3.7% and 0.1%, respectively, in November so far. NIO’s direct US peer Tesla has inched up 2.0% this month.
Alibaba stock (BABA) has declined 10.8% since October 1, 2018, and was also down 14.8% on a YTD basis as of November 13 amid tensions related to the trade war. Alibaba stock was also pressured after chair and founder Jack Ma announced in September that he is stepping down from the company.
Facebook (FB) has launched its online car listing service, Marketplace Autos, in Australia, according to the Sydney Morning Herald. The launch comes after Facebook determined that a lot of Australians use its social network to search for cars. Facebook’s Australian car listings service will initially focus on used cars, showing a strategic move by the company into Australia’s auto classified market.
For the tenth consecutive month, the so-called FAANG and BAT stocks—the US stocks Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), and Google (GOOGL) and China’s Baidu (BIDU), Alibaba (BABA), and Tencent (TCEHY)—remained the most crowded trades. However, investors’ sentiment seems to be shifting, as only 29% of the respondents determined them to be the most crowded trade as compared to 32% last month and 36% a month before that.
China's cyber watchdog said on Thursday it will require detailed logs on users from internet firms as part of a new policy aimed at cracking down on dissenting opinion and online social movements. The Cyberspace Administration of China (CAC) said that as of Nov. 30 it will require assessment reports from any internet platform that could be used to "socially mobilise" or lead to "major changes in public opinion". The CAC, in its policy notice posted on its website, did not name specific companies affected, but listed a wide range of services including chat functions, blogs, public accounts, web casts, video sites and news providers.
Facebook (FB) has introduced its online dating service in Canada and Thailand. The company is working to expand the availability of the service as it sets out to challenge Match Group (MTCH). Match Group operates a portfolio of online dating services including Tinder, OkCupid, and namesake Match.com.