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富途早报 | 美银:财报季开局创疫情以来最弱,盈利爆炸性增长阶段行将结束

Futu Morning Post | Bank of America: The start of the earnings season was the weakest since the pandemic, and the stage of explosive profit growth is coming to an end

富途資訊 ·  Jan 19, 2022 08:25

Hot news

  • World Health Organization (WHO): COVID-19 pandemic is far from over

World Health Organization (WHO) held a regular press conference on the COVID-19 epidemic on January 18 local time. World Health Organization (WHO) Director General Tan Desai said that last week, more than 18 million new confirmed cases were confirmed by COVID-19 worldwide, and the number of new confirmed cases in some countries seemed to have peaked. But the COVID-19 pandemic is far from over. As the Omicron virus strain spreads rapidly around the world, new mutants may appear. At present, more than 7 million viral gene sequences have been reported in 180 countries and regions, and now mutants such as Omicron strain and the evolution of novel coronavirus can be tracked in real time.

  • The US government launched the website where the COVID-19 test kit was ordered free of charge one day in advance.

On January 18, local time, the US federal government launched a website where people can order COVID-19 test kits for free one day ahead of schedule. According to White House officials, the federal government was scheduled to officially launch the website on the 19th, but it was launched one day in advance to conduct tests to ensure that the website can operate smoothly after it was officially launched on the morning of the 19th. It is reported that after user registration, each home address will be able to receive 4 sets of free COVID-19 test kits.

  • Under the monetary tightening of the Federal Reserve, the former high valuations and money-losing star stocks were badly hurt.

Since the beginning of the year, the Nasdaq 100 index of large technology companies has fallen more than 7%. High-valued stocks in the United States, represented by technology stocks, are facing a Davis double kill: the first knife is the soaring risk-free interest rate. Sharpen the knife to "kill the valuation"; the second knife is the signs that are bad for earnings growth. Shares of unprofitable companies in the Nasdaq composite index fell an average of 25% from Sept. 30 to Friday, while profitable companies rose an average of 1.4% over the same period, according to an analysis by the wall street journal.

  • Bank of America: the weakest start to the earnings season since the outbreak, the period of explosive profit growth is coming to an end

Bank of America Corporation strategist says wage pressure is the biggest risk to the profitability of US companies. They reinforced their long-standing warning that the period of explosive earnings growth was coming to an end. Bank of America Corporation strategists said the performance so far was the worst since the outbreak because of a "growing labour shortage". As the epidemic suppresses travel and leisure spending, single-quarter results will also be negatively affected by the surge in omicron cases.

  • Blackrock CEO: Fed's "aggressive" position may lead to a flattening of the yield curve

Blackrock CEO Larry Fink, the world's largest asset manager, said the Fed's rapid adjustment of monetary policy to curb inflation could flatten the Treasury yield curve. "I think the yield curve will flatten out, and if the Fed is very aggressive, I can even see a negative yield curve," Fink said on Tuesday.

Analysts generally see the narrowing of the gap between short-term Treasury yields and longer-term Treasury yields, that is, the flattening of the yield curve, as a sign of concern about economic growth and monetary policy uncertainty. A negative yield curve or upside-down curve usually indicates a recession.

Review of US stocks

  • The three major indexes of US stocks closed down sharply, and fears of raising interest rates depressed the market.

Us bond yields hit a two-year high and investors sold stocks on fears that the Fed would raise interest rates faster than expected. All three major stock indexes closed sharply lower, with the Nasdaq down 2.6 per cent, the lowest level in three months, the Dow down 1.51 per cent and the S & P 500 down 1.84 per cent.

All large technology stocks fell, with Apple Inc down 1.89%, Amazon.Com Inc down 1.99%, Amazon.Com Inc Meta down 4.14%, Alphabet Inc-CL C down 2.5% and Netflix Inc down 2.83%. New energy vehicle stocks generally closed down, with Tesla, Inc. down 1.92%, NIO Inc. down 4.33%, XPeng Inc. down 4.77%, Li Auto Inc. down 2.12% and Nikola down 8.43%.

  • Microsoft Corp announced the acquisition of Activision Blizzard for US $68.7 billion, while Activision Blizzard rose 25.88%.

Microsoft Corp said in an official statement on Tuesday morning local time that it would buy game giant Activision Blizzard for $95 a share, valued at $68.7 billion, the most valuable acquisition ever made by the company. Activision Blizzard closed up 25.88 per cent on Tuesday on the news, while Microsoft Corp's share price closed 2.43 per cent lower, dragged down by a sell-off in technology stocks.

  • The Q4 financial report fell short of expectations, and Goldman Sachs Group closed down by about 7%.

Before trading on Tuesday, US Eastern time, Goldman Sachs Group released his Q4 financial results for fiscal year 2021. According to the data, the bank's fourth-quarter net income was $12.64 billion, up 8% from a year earlier, below market estimates of $12.01 billion; Q4's net profit was $3.935 billion, down 13% from a year earlier; and earnings per share was $10.81, down 11% from a year earlier. Goldman Sachs Group shares closed down 6.97 per cent on Tuesday as the results fell short of expectations.

  • In 2021, Q4 Apple Inc accounted for 22% of global smartphone shipments, surpassing Samsung to become the first.

Thanks to the success of iPhone 13, Apple Inc accounted for 22% of global smartphone shipments in the fourth quarter of 2021, ranking first in the global smartphone market, followed by Samsung with a 20% market share, according to a new report released by data research firm Canalys on Jan. 19. In addition, XIAOMI ranked third with 12 per cent, OPPO ranked fourth with 9 per cent and vivo ranked the top five with 8 per cent.

  • Deutsche Bank: raise Apple Inc's target price to US $200, the growth prospect is promising

Deutsche Bank analyst Sidney Ho raised the target price of Apple Inc to $200 from $175and maintained its buy rating on the stock. The analyst said that Apple Inc's share price has an upward trend this year, and although supply chain restrictions will adversely affect revenue in the short term, Apple Inc's supply chain has improved at a faster rate, and the waiting time for buying iPhone has been reduced to only a few days, which should be enough to boost Apple Inc's performance and share price. In addition, the unit will "benefit from investments that shift to high-quality assets in an inflationary environment".

  • The two major communications giants in the United States have once again delayed some 5G deployment.

On Tuesday, local time, AT & T (AT&T Inc) and Verizon Communications Inc announced that they had agreed to postpone plans to deploy 5G services around some key US airports. According to media reports, the Biden government is actively involved in the coordination between the aviation industry and the communications industry, and is expected to reach an agreement that about 90% of the 5G services can be deployed as planned, but more than 500 wireless towers still need to be delayed. The vast majority of them belong to Verizon Communications Inc.

  • JD.com and Shopify Inc reached a strategic cooperation agreement to further develop global e-commerce business.

JD.com said in a statement on Tuesday that JD.com has worked with Canadian company Shopify Inc Inc to enhance cross-border business. Reach a strategic cooperation agreement. This cooperation will enable Chinese merchants to take advantage of Shopify Inc's platform and market around the world. Retailers on Shopify Inc can also reach Chinese customers through JD.com and take advantage of JD.com 's supply chain and logistics services.

Yesterday's turnover of US stocks TOP20

Turnover TOP20: Microsoft Corp's acquisition of Activision Blizzard will be completed in fiscal year 2023

The Prospect of Hong Kong City

  • Beishui made a net purchase of Meituan for 11 days in a row, and yesterday increased its position by more than HK $200 million.

Southward Capital bought a net HK $2.215 billion on Tuesday, a net purchase for 10 consecutive days, with a cumulative net purchase of 26.578 billion yuan. Kuaishou Technology-W, Meituan-W and Kingdee International Software Group received a net purchase of HK $315 million, HK $269 million and HK $144 million respectively.

In terms of net sales, Tencent and Huaneng International Power received a net sale of HK $245 million and HK $221 million respectively.

Southward funds have bought Meituan net for 11 consecutive days, totaling about 5.6491 billion Hong Kong dollars.

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  • Wuxi Apptec: the net profit in 2021 is expected to increase by 68% and 70%.

Wuxi Apptec announced that it is expected that the Group's operating income and net profit attributable to the company's shareholders for the year ended December 31, 2021 will increase compared with the same period in 2020. The company expects annual operating income to range from 22.819 billion yuan to 22.902 billion yuan in 2021, an increase of 38.0% to 38.5% over the same period last year. The net profit attributable to the company's shareholders is expected to range from 4.973 billion yuan to 5.032 billion yuan in 2021, an increase of 68.0% to 70.0% over the same period last year.

  • PradaThe group's total income in 2021 increased by 41% year on year and 8% to 3.364 billion euros compared with 2019.

PRADA S.p.A. announced that for the whole of 2021, the group's total revenue was 3.364 billion euros, an increase of 41 per cent over 2020 and 8 per cent over 2019 at a fixed exchange rate, driven by the outstanding performance of retail channels. In the second half of the year, sales of direct stores (including e-commerce) increased by 27% over 2020 and 21% over 2019 at fixed exchange rates.

Focus today

  • Key words: ASML Holding NV, Morgan Stanley, Bank of America, Procter & Gamble Co Financial report

Wednesday,In terms of financial dataInvestors can pay attention toTotal annualized housing starts in the United States and total construction permits in the United StatesTwo important pieces of data about the US real estate market.

Financial reportThere are more heavy earnings reports on Wednesday:

Before the disk, "the mother of the chip"$ASML Holding NV (ASML.US) $With many financial giants such as$Bank of America Corporation (BAC.US) $$Morgan Stanley (MS.US) $$U.S. Bancorp (USB.US) $And the fast consumer giant$Procter & Gamble Co (PG.US) $Announce the results.

United Continental Airlines (UAL.US) $The results will be announced after trading on Wednesday.

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Niuniu morning reading:

Great investors manage risk first. Most investors focus on returns, but few focus on risk and think about how much they are likely to lose. Greed blinds people's eyes, and after a short carnival, it is often a bottomless abyss. All great investors strictly follow trading discipline and strategy and manage risk.

-- Buffett

Edit / emily

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