39.33 -0.22 (-0.56%)
After hours: 7:56PM EST
|Bid||39.26 x 800|
|Ask||39.33 x 1100|
|Day's Range||39.19 - 40.97|
|52 Week Range||22.47 - 42.00|
|Beta (5Y Monthly)||1.37|
|PE Ratio (TTM)||269.05|
|Earnings Date||Feb 25, 2020 - Mar 01, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||40.70|
The three main U.S. stock indexes started in the red but slowly rose to finish flat. The impeachment trial of President Donald Trump continued, as China tries to contain a coronavirus.
(Bloomberg Opinion) -- Hong Kong is missing an opportunity to displace the U.S. as an offshore listing venue for Chinese companies by keeping trading fees too high. Alibaba Group Holding Ltd.’s $11 billion offering in November showed the potential for the city’s stock exchange to attract U.S.-listed mainland enterprises amid an unsettled trade relationship between the two largest economies. Relatively expensive costs threaten to undermine that appeal.Investors get more for their dollar when they trade on the New York Stock Exchange. In Hong Kong, bid-ask spreads are wider and minimum investment requirements are higher. That increases the chance of so-called slippage, when there is a difference between the expected price of a trade and the level at which it is actually executed. With zero stamp duty and lower minimum trade requirements, the NYSE has a more favorable environment for active investors.Alibaba’s Hong Kong trading volume has slumped since the internet giant made its debut on the local exchange. On Nov. 26, shares valued at the equivalent of about $1.79 billion changed hands. Since mid-December, that figure has dropped to a daily average of about $322 million. The Hong Kong listing has made no dent in Alibaba’s stock trading in New York, where volume has averaged $3.2 billion since late November.To be sure, trading costs are by no means the only factor — or even the main one — in deciding where to buy and sell. To begin with, the U.S. is a more deep and liquid market. It has other advantages, including a more active and developed options market that gives traders more ways to hedge or speculate on stocks. That said, Hong Kong could do a better job of rolling out the welcome mat.Since losing out to New York for Alibaba’s record $25 billion initial public offering in 2014, Hong Kong Exchanges & Clearing Ltd. has made a number of rule changes to enhance its viability as a platform for technology startups from China and elsewhere. In April 2018, the exchange amended its provisions to admit companies with dual-class shares. Smartphone maker Xiaomi Corp. and internet services company Meituan Dianping listed soon after, demonstrating that when HKEX makes smart decisions, the exchange benefits.More U.S.-traded Chinese companies are looking at Hong Kong for potential secondary listings. They include travel services provider Trip.com Group Ltd., formerly known as Ctrip; game and website operator Netease Inc.; web search provider Baidu Inc.; and e-commerce giant JD.com Inc. The way is open for Hong Kong to create a new offshore ecosystem for U.S.-listed Chinese companies seeking better positioning for the mainland while hedging their bets against a renewed deterioration in the U.S.-China relationship after the phase one agreement was signed this month.It makes little sense to squander this opportunity by maintaining trading costs that are a major barrier to entry. The Hong Kong government and the exchange must work together to make dual listing opportunities both beneficial and attractive to companies while encouraging investors to trade here. However, HKEX regulators seem to have their heads in the sand when it comes to reducing fees and the minimum buy-in to entice more companies. That may be a reflection of its monopoly status: Unlike the NYSE, which must compete with Nasdaq, HKEX has no local rival.Reducing fees would lower the barrier to entry for active investors and increase trading volume. As I wrote in September, cutting stamp duty would help improve liquidity and make Hong Kong stocks more attractive to retail and institutional investors. The ripple effect from this would further strengthen Hong Kong’s position as a global financial center. It’s time for the government and exchange to look beyond the immediate impact of reduced revenue and consider the long term. To contact the author of this story: Ronald W. Chan at firstname.lastname@example.orgTo contact the editor responsible for this story: Matthew Brooker at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Ronald W. Chan is the founder and CIO of Chartwell Capital in Hong Kong. He is the author of “The Value Investors” and “Behind the Berkshire Hathaway Curtain.”For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Coronavirus, shmoronavirus. The market just doesn't care, with the S&P 500 hitting another new all-time high on Wednesday. That said, let's look at a few top stock trades for Thursday. Top Stock Trades for Tomorrow No. 1: Boeing (BA)Source: Chart courtesy of StockCharts.comBoeing (NYSE:BA) shares remain under pressure, as its 737 MAX woes continue to weigh on investor sentiment. Now though, the stock is breaking through critical range support.Over the past 18 months, only the market-wide, fourth-quarter meltdown was enough to take BA stock below $320 range support. For the past year, any negative 737 MAX news was met by buyers near this mark -- until now.InvestorPlace - Stock Market News, Stock Advice & Trading Tips$320 support gave way this week, and now BA is knifing through its 150-week moving average. For many, BA is a no-touch. That is, until it reclaims $320 range support, or gets to a lower price. In the event of more downside, let's see if BA revisits the 2018 Q4 lows between $285 and $290. * 10 Stocks to Buy as the 2020 Presidential Election Approaches Below puts the 200-week moving average near $265 on the table. Top Stock Trades for Tomorrow No. 2: Aphria (APHA)Source: Chart courtesy of StockCharts.comAphria (NYSE:APHA) stock was one of two cannabis plays that I liked coming into 2020, along with Canopy Growth (NYSE:CGC). APHA is moving nicely on the day, up nearly 8%.The stock is hitting its highest level since it closed at $5.50 on Dec. 13, as it breaks out over that same price and continues to gain after pushing through downtrend resistance (purple line).Bulls would love to see APHA power through the 200-day moving average, although it may very well act as resistance on its first test.If Aphria shares pullback, bulls need to look for two areas of support. The first is $5.50, which had been resistance for months, while the second is the 50-day moving average and uptrend support (blue line). Below, and $4.50 is back on the table. Top Stock Trades for Tomorrow No. 3: JD.com (JD)Source: Chart courtesy of StockCharts.comAbove is a multi-year, weekly chart of JD.com (NASDAQ:JD), which shows the impressive bullish volume in the stock over the past few quarters. The stock hammered out a nice bottom near $20 in late 2018, and has been working higher ever since.For most of 2019, JD.com was setting up in a beautiful long-term ascending triangle. That's where rising uptrend support (blue line) squeezes a stock against a static level of resistance. The latter came into play near $32 and the 200-week moving average.Bulls got what they were looking for in the form of a big-time breakout. JD has since reclaimed $36, and continues to rise. If it can maintain this week's gain, investors are looking at a bullish, engulfing candle -- suggesting more upside could be in store. * 7 Energy ETFs to Buy for a Rebound in 2020 Over $42, and the $44 to $46 range is on the table. Historically, JD.com has struggled above this area. Above it, and $50 is possible. Below $39, and perhaps we can get a test of $36. Should the market really unravel, I'd love to scoop JD up at $32. Top Stock Trades for Tomorrow No. 4: Virgin Galactic (SPCE)Source: Chart courtesy of StockCharts.comYou want to talk about volume, though? Just check out the profile on Virgin Galactic (NYSE:SPCE). This stock continues to erupt higher and higher, leaving the stratosphere.We flagged the stock on its breakout over $12, paving the way to some tremendous gains, although I have been more cautious on the name north of $15. Like I said then, there could certainly be more upside, but no way can we be buyers here near $20 when SPCE was at $11 just a few days ago.Maybe we can buy a pullback, if there are signs that bulls still have momentum. Otherwise, we could see this one blow its top off and then fizzle.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long APHA. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Buy as the 2020 Presidential Election Approaches * 5 Dividend Stocks With Low Payout Ratios and High Yields * 4 Post-Holiday Retail Stocks Still Worth a Look The post 4 Top Stock Trades for Thursday: BA, APHA, JD, SPCE appeared first on InvestorPlace.
Shares of Chinese tech companies are off in Tuesday's session amid anxiety about a new coronoavirus that has claimed at least six lives in China so far. Ahead of what's expected to be a busy travel season around Lunar New Year, there's concern that the virus could spread even farther globally, especially after a medical expert said it could be transmitted between humans. Asia markets fell Tuesday, and U.S.-listed tech companies are also under pressure. Shares of iQiyi Inc. , Baidu Inc. , Alibaba Group Holding Ltd. , and JD.com Inc. are all off in morning trading. The KraneShares CSI China Internet ETF is down nearly 4% in the session, while the S&P 500 is down 0.2%.
(Bloomberg) -- Chinese ride-hailing startup Dida Chuxing is seeking to raise as much as $300 million and is considering an initial public offering, escalating competition with larger rival Didi Chuxing, according to people familiar with the matter.IDG Capital-backed Dida is raising between $250 million to $300 million in a pre-IPO round that it pitched to a wide range of investors, the people said, asking not to be named because the matter is private. Dida has mulled floating on exchanges in mainland China or Hong Kong, but prefers the latter, one person said. A Dida spokeswoman declined to comment.Ride-hailing operators are grappling with dwindling investor sentiment after Uber Technologies Inc. went public last May only to see its shares tumble. Dida, which infuses social elements into its car and taxi-hailing operation, has been trying to raise capital since around the middle of last year, the people said. It’s unclear what valuation the Chinese company is targeting.In May 2015, Dida received a $100 million funding from China Renaissance Capital Investment, according to Dida’s website. In March 2017, Chinese private equity fund Nio Capital led a new round in Dida. Hillhouse Capital, IDG, JD.com and Nio Capital participated in the company’s last funding round, according to a slide deck created in August but that’s been recently circulated to investors and viewed by Bloomberg News.Dida says it became profitable last April, earning 29 million yuan ($4.2 million) in the second quarter of 2019, according to the investor presentation slides. The company generated 151 million yuan in revenue for 2018, and expects that to have jumped to 643 million yuan last year, the same presentation shows.Beijing-based Dida is a distant second to Didi in China’s ride-hailing arena but its popularity grew after two female passengers were murdered while using the services of competitor Didi. Dida operates a network of 1.2 million taxi drivers and its daily orders has surpassed 3.65 million, according to the deck.To contact the reporters on this story: Zheping Huang in Hong Kong at firstname.lastname@example.org;Dong Cao in Beijing at email@example.com;Manuel Baigorri in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Edwin Chan at email@example.com, Colum Murphy, Peter ElstromFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Vipshop Holdings (VIPS) stock has soared 140% in the last year to crush Alibaba as the online discount retailer expands its customer base...
(Bloomberg) -- Chinese flexible display maker Royole Corp. has filed confidentially for a U.S. initial public offering to raise about $1 billion, people familiar with the matter said.The startup seeks funding to expand its sales and marketing and research facilities, the people said, requesting not to be named because the matter is private. It had originally planned to raise that amount via a private financing round at a valuation of about $8 billion, people familiar with that deal said in March. But the Chinese company is now tapping U.S. markets after liquidity tightened during a downturn in China’s venture capital sector, the people said.Royole, known for manufacturing the world’s first commercial foldable phone, competes with Samsung Electronics Co. and BOE Technology Group Co. to produce bendable screens using cutting-edge organic light-emitting diode technology. The company, which gave away wraparound-screen hats at the 2018 World Cup in Russia, this month unveiled a smart speaker that packs a bendable display around a cylinder.It’s unclear what timeframe the company’s looking at, the people said. A Royole representative declined to comment.Royole is regarded as one of a coterie of Chinese technology startups working to dismantle the decades-old image of China as a clone factory by leading in design and innovation. Like Huami and Insta360, these upstarts aim to take advantage of home bases in China close to where devices are manufactured, developing products faster and more cheaply.Founded by Stanford alumni Bill Liu, Peng Wei and Xiaojun Yu, Royole needs capital to plow back into research and expand production. The company, valued at about $5 billion in a previous funding round, invested 11 billion yuan ($1.6 billion) into a flexible display plant in Shenzhen that commenced production in June. Royole is working with Airbus to install displays in planes and also collaborates with clothing, furniture and kitchen-supply customers. Royole has said it secured a deal with Louis Vuitton that will see the two companies putting flexible screens on handbags of the future.Its full line of products encompasses head-mounted displays intended for use as so-called mobile theaters and other wearable flexible displays. The company even has a smart writing pad that it sells on Amazon.com, JD.com and in stores across China, the U.S. and Europe.Royole’s earlier investors include Knight Capital, IDG Capital, Poly Capital Management, AMTD Group, the funds of Chinese tycoon Xie Zhikun and the venture capital arm of the Shenzhen city government.Read more: The Trade War Spurs China’s Technology Innovators Into Overdrive(Updates with details on Royole’s inception from the fifth paragraph)To contact the reporters on this story: Julia Fioretti in Hong Kong at firstname.lastname@example.org;Lulu Yilun Chen in Hong Kong at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Colum MurphyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Tech stocks have been the star of the market through the first two decades of the 21st century. Expect that to continue into the third.That said, the ways investors can play the technology sector have evolved over the years.Once upon a time, tech stocks mostly seemed like speculative picks - high reward but equally high risk. However, technology's growing influence across all aspects of society, as well as the maturation of dozens of companies, has widened the field. Now, you can tap technology for consistent blue-chip growth, and in some cases, even for reliable dividends with decent yields.The following are the 15 best tech stocks to buy for 2020, with options for several portfolio needs. Each stock is categorized as an income winner, an established grower or a great speculation. Income winners have a nice track record of making (and raising) payouts, established growers boast leadership positions and profits, and great speculations are either developing a new market or have a clear opportunity to disrupt entrenched leaders. SEE ALSO: Hedge Funds' Top 25 Blue-Chip Stocks to Buy Now
JD.com, Inc. (JD), China’s leading technology driven e-commerce company and retail infrastructure service provider, today announced the pricing of its public offering of US$1.0 billion aggregate principal amount of its notes. The public offering consists of US$700.0 million of 3.375% notes due 2030 and US$300.0 million of 4.125% notes due 2050. The notes have been registered under the U.S. Securities Act of 1933, as amended, and are expected to be listed on the Singapore Exchange Securities Trading Limited.
JD.com, American Eagle Outfitters, Dick's Sporting Goods, Dollar General and Ross Stores highlighted as Zacks Bull and Bear of the Day
Zacks.com featured highlights include: JD.com, Talos Energy, Sony, Performance Food Group and Vipshop