By 2024, China’s shares have been falling. More than 5,200 stocks in Shanghai, Shenzhen and Beijing have fallen. Their market value has fallen more than 60% from the high point in 2021, evaporating almost US$2 trillion.
Shortly after the market opened on February 5, the Shanghai Composite Index fell to 2,655.09 points, and more than 2,000 company stocks were close to their lower limit. The tragic stock market crash has made many Chinese people despair.
Shareholders are angry
Some investors wrote: “It’s been falling for six months in a row. This is the seventh month. Even an illiterate person wouldn’t care about it. How can you be safe and sound like this?” “Why not?” you take the blame and resign?”
“The cancellation of A-shares will also reduce the number of fraud platforms.”
It’s Chinese New Year in the lunar calendar soon. Someone came up with a couplet: “Thousands of stocks fell to the extreme to say goodbye to the old year and welcome the new year.” The horizontal comment was: “Stuck in the stocks.”
To prevent investors from venting their discontent, the CCP tried its best to block all comment fields.
Accolade (ACCD) And Palantir Technologies Inc.: Outperforming Business…
2024-02-07 16:38:40
For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Accolade (ACCD) been one of those stocks this year? By taking a look at the stock’s year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
Accolade is a member of the Business Services sector. This group includes 313 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Accolade is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ACCD’s full-year earnings has moved 11.1% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Snap Plunges In Market As Revenue Falls Short,…
The Cliff Fall: Snap’s Struggles Continue
Snap, the multimedia messaging app, is witnessing one of its darkest days in the market since its debut in 2017. With a series of steep declines, the company’s stock value has plummeted, raising concerns among investors and industry analysts alike.
Revenues Below Expectations
During the quarter, Snap reported revenue of $1.36 billion. Although this figure came close to expectations, it fell slightly short of the $1.38 billion predicted by analysts at LSEG (formerly known as Refinitiv). Despite met earnings-per-share estimates by a margin of 33%, with adjusted EPS reaching 8 cents instead of the expected 6 cents.
Unfortunately for Snap, these results mark their sixth consecutive quarter with single-digit growth or sales decline. The company projected a revival in growth during Q1; however, it seems that this anticipated recovery may not be as rapid as initially expected.
Analysts Skeptical About Snap
Morgan Stanley analysts maintained their underweight rating on Snap’s stock and decreased their price target to $11 in a note to investors. They cited slower-than-predicted improvements in advertising performance and weak user engagement as concerning factors that could impede Snap’s progress further. Furthermore, they pointed out how Meta and Amazon are also displaying robust ad improvements and impression growth—a potential additional challenge for Snap’s ad revenue endeavors.
Warning To Investors About Zuckerbergs Martial Arts Hobby
Zuckerberg and some other managers engaged in “high-risk activities such as martial arts, extreme sports and recreational flying” that could “lead to serious injury and death,” Meta noted in the detailed report for last year published over the weekend.
It is the first time that the Facebook Group has included such a reference to its boss’s hobbies in its usual risk warnings for investors. As before, Meta also emphasized that if Zuckerberg were no longer available for whatever reason, this would have “significant negative consequences” for the business.
Zuckerberg has control over Meta thanks to shares with more voting rights than ordinary investors – and still has a leading role in determining the company’s strategy. Meta has billions of users on its services such as Facebook, Instagram and WhatsApp.
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Vote On SUVs In Paris: The Vote Illustrates…
Parisian voters voted, Sunday February 4, by 54.55% in favor of tripling the parking rate for vehicles weighing more than 1.6 tonnes. The increase must be implemented in September, according to Paris City Hall.
The vote mobilized 5.68% of the electorate, or 78,121 voters, 42,415 for, 35,340 against – there were 103,084 who voted during the previous vote against self-service scooters in April 2023.
The Parisian electoral geography is often decided between east and west (as in the presidential or European elections), and the vote on February 4, despite its low participation, is no exception. The wealthy west of the capital largely voted against the increase in parking rates for heavy and polluting vehicles (more than 80% in the 16e district), while the eastern districts have, on the contrary, supported this surcharge (more than 75% in the 10e arrondissement).
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Prosecute The Director Of A Real Estate Company…
Truong Dinh Dat, Director of Hau Dat Real Estate Company Limited, and Ngu Thanh Phuong, an employee, were prosecuted by the authorities for ‘fraudulent appropriation of property’. The amount of money appropriated by the two fraudsters amounted to nearly 3 billion VND.
On February 6, the Police Investigation Agency of Binh Duong Province served the decisions to prosecute the case, prosecute the accused, and issued temporary arrest warrants for Truong Dinh Dat (born in 1984) and Ngu Thanh Phuong. (born in 1983, living in Ho Chi Minh City) for fraudulent appropriation of property.
According to the investigation agency, Dat is the Director of Hau Dat Real Estate Co., Ltd. headquartered in An Tay commune, Ben Cat town, Binh Duong province, and Phuong is a sales employee of this company.
During the operation, Dat and Phuong used the company’s legal entity to receive plots, move to land, clear ditches, show roads on land… for customers.
Customers sign the contract and hand over money thanks to Dat and Phuong for support. But after receiving the money, Dat and Phuong did not comply with their commitment and took the money for personal expenses.
Many victims waited and did not see Dat and Phuong complete their work as promised,
Audi Is Considering Moving Its Electric Car Production…
#Audi #moving #electric #car #production #China
German luxury car maker Audi has decided to limit production of the Q8 e-tron and Q8 e-tron Sportback electric cars at its Brussels plant for at least two weeks. The main reason is a shortage of spare parts, writes Automobilwoche.
An official representative of the famous brand notes that, against the background of the unstable supply situation (due to the conflict in the Red Sea), after the end of the specified period, the validity period of the decision may be extended.
According to the German publication, the management of Audi is now considering possibly moving the production of the Q8 E-tron model to plants in Mexico and/or China.
The planned changes aim to reduce excess production capacity, while at the same time Audi’s factory in Changchun, China, is still not using full capacity.
A little earlier it became known that representatives of the European Commission plan to visit in the first months of 2024 for the purpose of inspection the car factories in China of BYD,
New York Community Bancorp Pledges To Reduce Exposure…
New York Community Bancorp pledged Wednesday to reduce its exposure to the troubled commercial real estate (CRE) sector, seeking to reassure investors who have dumped the stock since its earnings report last week.
The lender unexpectedly reported a fourth-quarter loss after making higher provisions for potential loan defaults, primarily due to its exposure to the CRE sector.
Here is a breakdown of the bank’s loan portfolio as of December 31:
**Total assets and deposits
New York Community Bancorp’s total assets are $116.3 billion and total deposits are $81.4 billion.
The bank said its total deposits had risen to about $83 billion on Tuesday, up 2% from those reported at the end of the year.
**Commercial and industrial (C&I) loans
The lender said its total C&I loans were $25.3 billion, including loans acquired from Signature Bank and its warehouse loans. These constituted about 30% of his total loans.
**Business loans
The lender’s commercial loans – which include commercial real estate and acquisition loans, as well as development and construction – were $13.35 billion, or nearly 16% of its total loans.
**Multifamily loans
Its multifamily loan portfolio was $37.2 billion and represented about 44% of its total loans.
Exclusive Analysis: These 106 Electricity Suppliers Are Increasing…
82 regional suppliers will increase their electricity prices from March 2024. Leestat/getty images
In March and April 2024, 106 regional electricity suppliers will increase their prices.
EnBW, EWE and Yello customers are particularly affected. Prices are expected to rise by an average of ten percent.
The main reason for this is the federal government’s subsidy for network fees, which was canceled due to the budget crisis.
Although price cuts for electricity and gas consumers were announced at the beginning of 2024, some electricity providers want to increase their electricity prices in March and April. The customers of 106 regional suppliers are affected, Verivox evaluates.
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The electricity prices of 106 providers are becoming more expensive
Next March and April, electricity prices from 106 suppliers are expected to rise by an average of ten percent. This emerges from a list from the comparison portal Verivox, which is available exclusively to Business Insider. It lists 125 electricity providers who want to make price changes in the coming months – both price increases and price decreases.