BEIJING, June 2 (Xinhua) — U.S. stocks closed higher On Monday as signs of a recovery in economic activity partly dispelled investors’ fears of growing protests. By the close, the Dow was up 91.91 points, or 0.36 per cent, at 25,475.02, the S.P. 500 was up 11.42 points, or 0.38 per cent, at 3,055.73 and the Nasdaq was up 62.18 points, or 0.66 per cent, at 9,552.05.
The Nasdaq is up 0.66% at 9,552.05.
Most of the major U.S. tech giants rose, with Facebook up 3.03 percent, Amazon up 1.17 percent, Apple up 1.23 percent, NetFlix up 1.47 percent, Alphabet up 0.2 percent and Microsoft down 0.23 percent.
China’s major technology stocks rose and fell, with NetEase up 3.84 per cent, Aichi Art up 0.66 per cent, Ping Duo down 1.66 per cent, Weibo down 0.03 per cent, Tencent Music down 2.48 per cent, Alibaba down 0.4 per cent, JD.com up 0.74 per cent, Baidu up 0.52 per cent and E.B.I. up 14.71 per cent.
Share price of China General Stock
Most of the other Chinese stocks rose, including: Titanium (up 10.86%), Baozon E-commerce (up 10.8%), 500 Lottery Network (up 9.86%), Good Future (up 8.09%), SMIC (up 7%) .07%), NIO (up 7.04%), Small Win Technology (up 6.68%), Jinshan Yun (up 6.21%), Xinandu (up 5.6%), LeGu (up 5.45%), Futu Holdings (up 5.32%), Happy Group (up 5.08%), Lexin (up 4.79%), Eggshell Apartments (up 4.5%), Jane Pu Technology (up 4.15%), 58 Tongcheng (up 4.0%), who learns with whom (up 3.99%), NetEase (up 3.92%), Tiger Tooth (up 3.41%), Sohu (up 3.28%), Stranger (up 3.04%), New Oxygen (up 3.03%), Century Connect (up 2.47%), Renren (up 2.45%), Renren Phoenix New Media (up 2.38%), Yunmi (up 2.32%), Microloan Network (up 2.27%), Sina (up 1.98%), Beep Mile (up 1.94%), New Oriental (up 1.7%), Cheetah Mobile (up 1.46%), Easy Car Net (up 1.32%), UT Starcom (up 1.06%), Dane Technologies (up 0.91%), Touch (up 0.9%), Thunderbolt (up 0.62%), Zhongtong (up 0.61%), Sogou (up 0.31%) , Car House (up 0.27%), Pleasant Loans (up 0.26%), and E.C., up 0.08%.
Companies that were flat on the previous trading day included Zhengbao Education, Fish Fighting and Tiger Securities.
Companies that fell included: Huami (down 0.21%), Fanji (down 0.47%), Yun (down 0.59%), Future Worry (down 0.74%), Maverick Electric (down 0.75%), Vicente (down 1.15%), Lizhi (down 1.1%) .22%, Lanting Set (down 1.25%), Xinyin Technology (down 1.32%), Group Car (down 1.49%), Fun Shop (down 2.0%), 1 Pharmaceutical Network (down 2.16%), Ctrip Network (down 2.52%), Ruhan Holdings (down 2.6%), Youxin (down 2.61%), Temple Bank (down 3.43%), Worry Free English (down 3.67%), Baishi (down 4.25%), Luckin Coffee (down 5.56%), 360 Finance (down 5.57%), fluent (down 5.66%), Medi-Cal (down 6.46%), Tuan (down 8.16%), Jianan Technology (down 10.17%) and financial sector (down 14.12%).
Fighting fish shares are undervalued and worth investing in
When it went public nearly a year ago, the fish was offering $11.5, much less attractive to investors than the tiger. At present, The share price of Doofish is more than 20 per cent lower than the offering price, and tiger tooth share selling price is nearly 30 per cent higher than the issue price. The average monthly live user of fighting fish fell 1 percent to 158.1 million in the first quarter as the “traditional off-season” and the suspension of Internet cafes due to the outbreak reduced PC subscribers. However, Doofish’s monthly live subscribers grew 15 per cent to 56.6million and paid subscribers by 26 per cent to 7.6 million. By contrast, tiger-tooth edgy live users grew 22 percent to 151.3 million, mobile monthly live users grew 39 percent to 53.9 million, and paid subscribers grew 13 percent to 5.4 million. Doofish’ revenue rose 53 percent to $321.1 million, beating expectations of $22.3 million, and adjusted net profit rose eightfold to $41.9 million, partially dispelling investor concerns about its profitability. The gross margin of fighting fish increased from 13.6% to 21.3%, thanks to increased liquidity and more efficient use of bandwidth. It also streams more top-of-the-line game content, develops more paid e-sports content, and strengthens collaborationwith with developers and anchors. Operating margin was 11.4%. In contrast, Tiger’s gross margin and operating margin were 20.3 per cent and 9.4 per cent, respectively. Doofish also expects second-quarter revenue to grow 26 per cent to 28.7 per cent, down from 29.3 per cent to 30.8 per cent, suggesting the two companies will continue to dominate the live chinese game market. Analysts expect dootoser revenue and profits to grow 33 per cent and 135 per cent respectively next year, compared with 23 per cent and 45 per cent next year, compared with an 18-fold price-to-earnings ratio. The advantage of fighting fish outweighs the regulatory risks it faces, and the share price is undervalued.
Auto Home beat expectations, falling 2.34% after the session
Car Home last night reported a slightly better-than-expected first-quarter results. Car House’s shares fell at one point in regular trading today before rebounding. By the close, Auto Home was up $0.21, or 0.27 percent, at $77.14. Car Home shares fell $1.81, or 2.34 percent, in after-hours trading. Autohome’s first-quarter adjusted earnings per share were 76 cents per share, compared with revenue of $218.43 million. Wall Street’s forecasts for the two figures were 74 cents and $216.2 million, respectively. Auto Home’s revenue was in line with its expectations. In addition, Autohome’s second-quarter revenue will be between $313.5 million and $327.6 million, a median of $314.3 million that Wall Street had expected. The results showed strong growth in Autohome’s data products business, which grew by more than 80% in the first quarter, and 32.1% year-on-year growth in the online market and other revenues as a result of the increased contribution of data products. Car Home’s share price has fallen about 4% so far this year.
U.S./Foreign Technology Stocks
Other foreign technology stocks rose and fell, with companies rising, including zoom (up 13.75%), Tesla (up 7.56%), Nokia (up 6.33%), Speedgold (up 6.15%) and Slack (up 6.08 percent). BlackBerry (up 6.03%), Zynga (up 5.57%), Lyft (up 4.25%), Snap (up 3.22%), NXP (up 3.22%), Twitter (up 2.97%), Motorola Systems (up 2.67%), Yelp (up 2.07%), iRobot (up 1.67%), Ericsson (up 1.42%), Momentum Blizzard (up 1.4%), Fibit (up 1.26%), Sony (up 1.13%), Spotify (up 0.98%), Lending Club (up 0.93%), Salesforce (up 0.9%) (up 0.8%), Adobe (up 0.8%) Pinterest (up 0.69%), GoPro (up 0.64%) and SAP (up 0.32%) were up.
Among the declined companies were IBM (down 0.01%), Hewlett-Packard (down 0.07%), Art (down 0.08%), PayPal (down 0.31%), AMD (down 0.32%), and Broadcom (down 0.44%), Dell Technologies (down 0.54%), eBay (down 0.75%), Nvidia (down 0.78%), Oracle (down 1.32%), VMware (down 1.36%), And Uber (down 1.38%), Qualcomm (down 1.42 per cent), Groupon (down 1.57 per cent), Intel (down 1.7 per cent), Western Digital (down 2.92 per cent), Box (down 3.05 per cent), Cisco (down 3.18 per cent), Micron Technologies (down 3.28 per cent) and Symantec (down 4.7 per cent).
Tesla shares jump 7.56% to new buying point
Tesla shares rose $63.1, or 7.56 percent, to $898.1 00 in regular trading Monday. SpaceX’s success in sending astronauts to the International Space Station is partly responsible for Tesla’s rise. In addition to automotive products such as model X and Model 3, Tesla is a pioneer in clean energy production and storage, introducing home-oriented products for homes and factories. Tesla shares were added to the “IBD list” as the stock price surged Monday. Although Tesla does not appear on the latest list of mutual fund investment stocks, 203 ibD A-plus-rated funds hold their shares, including Fidelity Reverse Funds and Fidelity OTC Funds. The number of funds holding Tesla shares rose from 1,209 to 1,319 in the last quarter. Unlike Microsoft, the IBD Long-Term Leader component, which has long been a steady earner, Tesla’s performance has been volatile. Tesla’s profit growth in the past five quarters has ranged from 0 to 143 per cent (in the first quarter), but the higher growth in the first quarter was against the backdrop of a year-on-year loss. Tesla’s IBD has a combined rating of 96, meaning it performs more than 96% of its stock. Of the 197 industries tracked by IBD, the automotive industry ranks first. Tesla’s share price is coming out of the cup. A sharp correction was a warning sign, but the sharp fall in the broader market during the outbreak weakened the significance of the signal. Tesla’s relative strength index, a signal of market leadership, is also on the upswing, hitting a record high.
AntiPodes Partners says Microsoft is worth the investment
The investment firm Antipodes Partners recently released a letter to investors in the first quarter of 2020, with its Antipodes Global Fund returning -5.3 per cent in the first quarter, better than the MSCI AC World Index of 9.7 per cent. In the letter, Antipodes Partners highlighted several stocks, including Microsoft. Microsoft, a technology company, is up about 15.6 percent so far this year. Microsoft shares fell $0.42, or 0.23 percent, to $182.23 in regular trading today. “Software companies, especially Microsoft, will be beneficiaries as more people adopt the remote home office model, with record office 365 downloads,” Antipodes Partners said of Microsoft. Industry insiders expect that the tele-home mode will be retained even after the new crown outbreak. The number of hedge funds that are bullish on Microsoft rose 24% in the first quarter of 2020 from the fourth quarter of last year, so a number of other hedge fund managers seem to agree with Microsoft’s growth potential. Microsoft came in second out of the top 30 stocks held by hedge funds, according to the data.