BEIJING, April 3 (Xinhua) — U.S. stocks rose Thursday on news that the U.S. government is considering a fourth round of anti-epidemic stimulus. By the close, the Dow was up 469.93 points, or 2.24 per cent, at 21,413.44, the S.P. 500 was up 56.4 points, or 2.28 per cent, at 2,526.90 and the Nasdaq was up 126.73 points, or 1.72 per cent, at 7,487.31.
The Nasdaq is up 126.73 points, or 1.72 per cent.
Most of the major U.S. tech giants rose, with Facebook down 0.88 percent, Amazon up 0.58 percent, Apple up 1.67 percent, NetFlix up 1.65 percent, Alphabet up 1.38 percent and Microsoft up 2.07 percent.
China’s major technology stocks rose mostly, with NetEase up 2.39 per cent, Aichi Duo up 1.54 per cent, Ping Duo up 1.06 per cent, Weibo up 1.03 per cent, Tencent Music up 8.79 per cent, Alibaba up 0.71 per cent, JD.com down 2.03 per cent, Baidu up 1.96 per cent and E.B.I.2.92 per cent.
Share price of China General Stock
Other Chinese stocks rose and fell, including: 58 Tongcheng (up 12.98%), Century Connect (up 10.56%), Thunderbolt (up 5.57%), Sina (up 5.32%), Fighting Fish (up 4.47%), Group Car (up 4.23%), And Forward Worry (up 4.04%), Zhongtong (up 3.91%), SMIC (up 3.79%), Baxter (up 3.65%), Huami (up 3.59%), Yunmi (up 3.58%), Gathering (up 3.21%), Happy Group (up 3.04%), New Oriental (up 3.03%), Canaan Technology (up 2.44%), Futo Holdings (up 2.42%), Tiger Tooth (up 1.74%), Beep Mile (up 1.5%), Youxin (up 1.39%), EasyCar (up 1.36%), Sohu (up 1.34%), Car Home (up 1.13%), Ctrip (up 0.95%), Sogou (up 0.6%), Jumeiline (up 0.31%), Zhengbao Education (up 0.16%), 1 Drug Network (up 0.15%).
Companies that were flat on the previous trading day included Cheetah Mobile.
Falling companies include UT Starcom (down 0.61%), Changyou (down 0.66%), Phoenix New Media (down 0.84%), Tuan (down 0.98%), Han Holdings (down 1.47%), Good Future (down 1.73%), Worry Free English (down 1.96%), 500 Lottery Network (down 2.44%) , Lexin (down 2.57%), 360 Financial (down 2.69%), LeGu (down 2.86%), Stranger (down 2.89%), Dane Technology (down 2.95%), Tiger Securities (down 3.02%), Jane Pu Technology (down 3.61%), TouchBao (down 3.76%), Micro-credit network (down 3.85%), Exclusive (down 4.02%), Maverick Electric (down 4.34%), Pleasant Loan (down 4.37%), Baozun E-commerce (down 4.78%), Financial Sector (down 5.46%), Pintiti (down 5.88%), Mt.J .D.(down 5.99%), Lanting Set (down 6.25%), Fluent (down 6.38%), NetEase Hasway (down 6.43%), Fun Shop (down 7.53%), Small Win Technology (down 8.19%), SouFun (down 9.09%), NIO (down 9.81%), Renren (down 10.0%), Xinyi Technology (down 10.42%), Xinandi Fu (down 13.97%), Temple Bank (down 14.17%) %) Luckin Coffee (down 75.57%).
Figure: Sina’s revenue will grow 18% over the next two years
Sina’s shares have risen more than 10 per cent in the past two months. Sina’s share price is still relatively cheap. According to Simple Wall St.’s estimates, Sina’s stock is worth $43.45, well above the current $30.8, meaning there is still an opportunity to buy Sina stock. Investors may also have a chance to buy Sina shares in the future because of its high beta factor, which means that price volatility is greater than the market as a whole. In a bear market, Sina’s decline is likely to be greater than the market as a whole, providing new buying opportunities. The outlook for the business is an important factor for investors to consider buying stocks. While investors believe that the most important thing is the ratio of intrinsic value to share price, a more attractive investment theory holds that low-priced high-growth potential stocks are more valuable. Sina’s revenue is expected to grow by 18% in the next two years, and the outlook is quite good. If costs are brought under control, Sina will have higher cash flow, which will further increase the value of Sina’s stock. Capital structure may be a factor in Sina’s undervaluation.
Figure: 58 City receives privatization offer up nearly 13%
The same city today announced that the Board of Directors has received a non-binding preliminary offer for the date of April 2, 2020. The acquirer is Ocean Link Partners, which plans to acquire all of the common shares in the same city, including Class A common stock represented by American Depositary Shares (ADS, equivalent to two Class A common shares per ADS) The offer price is $27.5 per Class A or Class B common stock, or $55 per American depositary share. The city board later said it would evaluate the offer as soon as possible. Shares of 58 Shares rose $6.06, or 12.98 percent, to close at $52.76 in regular trading today, giving it a market value of nearly $7.9 billion. Shares of Tongcheng were trading at $54.05 at one point. Gullco investment and Ctrip are closely related, and the investment and financing involved are almost entirely around Ctrip’s tourism business. From the very beginning of its existence, Ctrip and Transatlantic Investment Group were introduced as strategic partners. 58 The same city plate is larger, the outside world doubts whether the gull-san investment has the strength to privatize 58 the same city. Recently, 58 tongcheng is also very active, on March 24, 58 Tongcheng announced that it signed an agreement with second-hand car e-commerce platform Youxin Group to buy Youxin auction business for 105 million yuan;
U.S./Foreign Technology Stocks
Other foreign technology stocks rose mostly, including Broadcom (up 6.01%), Momentum Blizzard (up 5.7%), NVID (up 5.1%), Art (up 4.88%), Cisco (up 4.82%), Intel (up 4.76%), IBM (up 4.62%), Hewlett-Packard (up 4.38%), Yelp (up 4.19%), NXP (up 4.08%), Box (up 3.81%), Sony (up 3.62%), Motorola Systems (up 3.42%), Express (up 3.39%), Qualcomm (up 3.22%), Micron (up 3.01%) Nokia (up 2.36%), PayPal (up 2.34%), Oracle (up 2.24%), Ericsson (up 2.06%), AMD (up 1.9%), VMware (up 1.9%), eBay (up 1.42%), iRobot (up 1.09%), Adobe (up 0.91 per cent), Dell Technologies (up 0.65 per cent), Western Digital (up 0.6 per cent), Snap (up 0.54 per cent), Spotify (up 0.25 per cent) and Salesforce (up 0.19 per cent).
Among the companies that fell were Lending Club (down 0.28%), SAP (down 0.51%), Fibit (down 0.6%), Zynga (down 1.18%), Twitter (down 1.29%), and Symantec (down 1.55%), Pinterest (down 3.32 per cent), BlackBerry (down 3.87 per cent), Lyft (down 4.47 per cent), GoPro (down 5.62 per cent), Tesla (down 5.63 per cent), Slack (down 5.79 per cent), Uber (down 6.85 per cent) and Groupon (down 8.52 per cent).
Pictured: Tesla’s car deliveries beat expectations, jumping 13.32% after the session
Tesla delivered 88,400 vehicles in the first quarter, down 21 percent from the fourth quarter of last year, but beating analysts’ expectations of 78,100. Tesla shares fell $27.09, or 5.63 percent, to $454.47 in after-hours trading. Gene Munster, executive partner of Loup Ventures, said, “It’s amazing how good Tesla’s business is, I don’t know how it’s doing it, and the world thinks Tesla’s car deliveries are going to be much more ugly.” “Although Tesla delivered more than a year earlier, the increase was quite small, given the start-up of the new Model Y and Shanghai plants. Tesla has not disclosed plans for new car deliveries this year. Like all other automakers, analysts don’t expect Tesla’s difficulties to end any time soon. As the risk of a global recession increases, consumers’ willingness to buy commodities such as cars will diminish. Tesla did not disclose first-quarter production at the Shanghai plant, which has been helped to resume production quickly after the spring break because of the outbreak. “It’s a pretty good number, given that Chinese factories have extended the Spring Festival holiday,” said Ben Kallo, an analyst at investment firm Robert W. Baird, referring to Tesla’s first-quarter production of 102,672 vehicles. He doesn’t seem unfazed by Tesla’s failure to update its 2020 delivery plan, “which suggests that they think the current environment is very uncertain and that no update is better than an update.” “
Pictured: Microsoft up more than 2% after Morgan Stanley analysts
According to Keith Weiss, an analyst at Morgan Stanley, Microsoft is a good choice for investors looking for more resilient stocks during the new corona pneumonia outbreak. Weiss rated Microsoft’s stock as “overweight” and set its target price at $180. In an investment report Released Thursday, Mr. Weiss said Microsoft is in pretty good position, both in the near term and in the long term. In his report, Weiss cited data from the Morgan Stanley AlphaWise CIO survey. Microsoft has strong products in tools such as collaboration software, remote access, and desktop virtualization that support remote work, he said. The results show that Azure is the number one brand of infrastructure as a service, platform-as-a-service, and the next three years as the transition to cloud services accelerates after the outbreak. Weiss also noted that the CIOs surveyed said Microsoft was the best choice when it comes to hybrid cloud services. They believe Microsoft will overtake Amazon AWS as the biggest winner of IT budget growth in 2020 as businesses transition to cloud services. “A return to normal operating conditions, double-digit revenue growth, and improved margins will lead to double-digit growth and sustained returnons on capital for the 2019-2022 fiscal year,” Weiss said.