180.45 +0.02 (0.01%)
After hours: 5:24PM EST
|Bid||178.01 x 800|
|Ask||180.50 x 1100|
|Day's Range||178.91 - 183.57|
|52 Week Range||177.80 - 284.22|
|Beta (3Y Monthly)||1.27|
|PE Ratio (TTM)||16.39|
|Earnings Date||Feb 11, 2019 - Feb 15, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||254.48|
Apple's latest iPhones aren't spurring the kind of sales uptick that Wall Street expected. One analyst said iPhone XR inventories are "bloated."
Wall Street loves its acronyms. For a long time, FANGs have reigned supreme, but now it may be time to pay attention to the BAITs. When was the last time you read a market recap that did not include mention of the FANG stocks? Depending on your definition, this group of typically (but not always) highflying tech stocks included the likes of Facebook (FB), Amazon.com (AMZN), Netflix (NFLX) and Google parent Alphabet (GOOGL), though other stocks are often mentioned in the same breath. Why not? Acronyms catch investors' attentions and get plenty of media play. The problem is when these vaunted stocks don't give investors the fat returns they expect. Sure, Amazon is up 38% year-to-date, but it is now trading down 13% from its Sept. 4 peak. Alphabet's performance lags the Standard & Poor's 500-stock index by two percentage points for the year, and Facebook is actually negative by 22%. But a different group of tech stocks seems poised to carry the mantle of market leadership. And they provide the game-changing technology to the world's second largest economy. They are China's version of the FANGs, called BAITs. they now look attractively priced thanks to China's recent bear market. SEE ALSO: Emerging-Markets Stocks: 10 Ways to Play the Next Bull Market
Through its Mobileye subsidiary, Intel (INTC) is forming a joint venture with Volkswagen to enter the Israeli taxi services market. The companies are aiming to launch what would be Israel’s first ride-hailing service using cars capable of driving themselves. To do so, Mobileye and Volkswagen are joining forces with Israeli car importer Champion Motors, and each company will play a specific role in helping the plan succeed.
Concerns about China’s economic growth have been among the key factors that spooked investors in 2018. The country’s economic growth rates have cooled off. President Trump has slapped tariffs on $250 billion worth of goods from China.
NYU1 Stern School of Business professor Aswath Damodaran calls Tesla (TSLA) “the ultimate story stock.” He also stated on his blog that “investors in Tesla were investing in Elon Musk, not the company.” If we look at Tesla stock’s gains in the last five years, we could find some sense in Damodaran’s statements. TSLA stock has frequently rallied sharply based on Musk’s tweets about the company’s future plans and reassurance of meeting targets despite past failures.
Is NIO’s Story More Believable than Tesla’s? Previously, we looked at NIO’s (NIO) Wall Street journey since its listing on the New York Stock Exchange. Only ~40% of the analysts covering the stock recommend “buy,” while 50% are neutral and recommend “hold.” Let’s now look at some of the challenges NIO might face in its endeavor to become a popular electric carmaker like Tesla (TSLA).
Is NIO’s Story More Believable than Tesla’s? NIO (NIO) stock has been highly volatile since its listing on the New York Stock Exchange in September. NIO’s start on Wall Street underwhelmed investors with an IPO of $6.26 per American depositary share on September 12.
Now Ctrip.com International Ltd. joins the gang of Chinese internet companies unable to avoid the headwinds of an economic slowdown. Nobody thought that 40 percent growth rates would last forever, but investors clearly were surprised by the online travel agency’s tepid fourth-quarter guidance.
BEIJING, Nov. 8, 2018 /PRNewswire/ -- Baidu, Inc. (BIDU) ("Baidu" or the "Company"), the leading Chinese language Internet search 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$600 million of 4.375% notes due 2024 and US$400 million of 4.875% notes due 2028. 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.
The elite funds run by legendary investors such as Dan Loeb and David Tepper make hundreds of millions of dollars for themselves and their investors by spending enormous resources doing research on small cap stocks that big investment banks don’t follow. Because of their pay structures, they have strong incentive to do the research necessary […]
As of November 6, NIO’s (NIO) forward price-to-book multiple was 38.9x. This multiple was calculated based on the company’s estimated book value for the next 12 months. At the same time, Tesla’s (TSLA) forward price-to-book multiple was much lower at 9.4x. Alibaba (BABA) and Baidu (BIDU), other Chinese companies, had forward price-to-book ratios of 4.9x and 2.6x, respectively.
Alibaba (BABA) has won a US court order preventing Dubai-based firm Alibabacoin Foundation from using the Alibaba name in its products. According to Alibaba, the Alibabacoin name is too close to its own trademark, raising the risk that people might think the two are affiliated. In addition, Alibaba accused the Alibabacoin Foundation of trying to take advantage of its strong brand reputation, which it has invested billions of dollars over the years to build.
In January, eBay’s board authorized a fresh $6.0 billion stock repurchase program, which happened when there was still $1.7 billion remaining under a previous repurchase authorization. Thus, eBay started 2018 with $7.7 billion available for stock repurchases. In the first nine months of 2018, eBay bought back about 80 million of its own shares, returning $3.0 billion to shareholders in the process, which includes the 29 million shares bought back for about $1.0 billion in the third quarter.
Inc. led a string of Asian companies rushing to sell bonds on Thursday, taking advantage of improved market sentiment after the U.S. midterm elections. Baidu offered 5 ½-year and 10-year bonds for sale, initially proposing yields of respectively 1.5 percentage points and 1.95 percentage points over comparable Treasury bonds. Investors said Baidu was capitalizing on the positive market mood and a move by Moody’s Investors Service, which this week lifted its outlook on the company’s credit rating to positive from stable.
Moody's Investors Service has assigned an A3 senior unsecured rating to the proposed USD notes to be issued by Baidu Inc. (A3 positive). "Baidu's proposed senior unsecured notes will improve its debt maturity profile and add capacity to accommodate its funding needs over the next 12-18 months," says Lina Choi, a Moody's Vice President and Senior Credit Officer. "The proposed notes will have no impact on Baidu's debt leverage, because the proceeds will be mainly used for debt refinancing," adds Choi, who is also Moody's Lead Analyst for Baidu.
Alibaba Group's newly formed on-demand online services unit has rocketed in value to as much as $30 billion after raising $4 billion in fresh funds, people with knowledge of the situation told Reuters. Alibaba (BABA.N) combined the operation of food delivery service Ele.me and online restaurant guide business Koubei under a single management team and holding vehicle in October. In a deal in April where Alibaba bought the shares it did not already own, Ele.me was valued at $9.5 billion.
On one side was Mao Yongqing, head of the 28th Research Institute of China Electronics Technology Group, which develops electronic warfare technology for the People’s Liberation Army. , one of China’s privately owned internet groups.
BEIJING, Nov. 7, 2018 /PRNewswire/ -- Baidu, Inc. (BIDU) ("Baidu" or the "Company"), the leading Chinese language Internet search provider, today announced that it has filed a preliminary prospectus supplement with the United States Securities and Exchange Commission (the "SEC") under an automatic shelf registration statement on Form F-3, pursuant to which the Company proposes to sell senior notes. The Company intends to use the net proceeds from the offering to repay existing indebtedness and for general corporate purposes. The joint bookrunners of the offering are Goldman Sachs (Asia) L.L.C. and J.P. Morgan Securities LLC.
The company’s future revenue growth is highly dependent on its upcoming car model ES6, which it expects to launch by the end of 2018. Consistent solid demand for ES6 could make NIO’s revenue grow faster than Tesla’s revenue at its initial stage. In the third quarter, NIO reported a gross loss of about 116 million Chinese yuan, or $16.9 million, as compared to a gross loss of 153 million Chinese yuan in the second quarter.
In the third quarter, NIO (NIO) reported net revenue of 1,470 million Chinese yuan (or ~$214.0 million) as compared to its revenue of 46 million Chinese yuan in the second quarter. However, the company’s third-quarter revenues were weaker than Wall Street analysts’ estimates of 1,589 million Chinese yuan.
Back in May 2017, Alibaba (BABA) announced a plan to repurchase its own shares to the tune of $6.0 billion over two years. In September this year, Alibaba announced that it was starting to implement its previously approved $6.0 billion stock repurchase program. Does Alibaba have what it takes to fund a $6.0 billion repurchase program over two years?
In the third quarter, NIO reported an increase in its adjusted net loss per share to about 10.35 Chinese yuan, or $1.51 million, as compared to 57.82 Chinese yuan in the second quarter of 2018 and 58.52 Chinese yuan in the third quarter of 2017. The company’s reported loss was much worse than the Wall Street analyst estimates for a net loss per share of 2.36 Chinese yuan. NIO’s third-quarter earnings report was released on Tuesday before the market opened.