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☆ Stocks making the biggest moves midday: Ally Financial, Southwest Airlines, Oracle and more
▼ + stars: | 2024-09-10 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Mission Produce , Calavo Growers — Shares gained 20% after the avocado producer reported a year-over-year revenue increase of 24% for the fiscal third quarter. Calavo Growers advanced around 12% after the rival producer reported adjusted earnings of 57 cents per share in its fiscal third quarter. That is more than the 43 cents per share that analysts were expecting, according to FactSet. Oracle — Shares of the database software company surged more than 11% after a fiscal first-quarter beat on the top and bottom lines. For the fiscal second quarter, the company saw growth of 4% in preliminary consolidated same-store sales.

Persons: Russell Hutchinson, LSEG, Piper Sandler, Hewlett Packard, Rubrik, FactSet, Patterson, Gary Kelly, Bob Jordan, Alibaba, Daniel Pinto, — CNBC's Brian Evans, Samantha Subin, Lisa Kailai Han, Jesse Pound, Michelle Fox Organizations: Ally, Mission, Calavo, Calavo Growers, Oracle —, Oracle, Amazon Web Services, Hewlett Packard Enterprise, Hewlett, Juniper Networks, UTI, Southwest Airlines —, Elliott Investment Management, Hong, Reuters, JPMorgan Locations: U.S, Alibaba —, China, Hong Kong, Shanghai, Shenzhen

☆ Stocks making the biggest moves before the open: Apple, Oracle, Boot Barn, Mission Produce and more
▼ + stars: | 2024-09-10 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Mission Produce — The avocado producer surged 21.6% after reporting revenue for the fiscal third quarter jumped 24% from a year ago. The company reported sales of $324 million, compared with $261.4 million in the same three-month period one year before. Boot Barn — Shares rose 6% after the Western-style retailer provided an update on its recent performance ahead of a Piper Sandler Growth Frontiers Conference presentation. Boot Barn announced preliminary consolidated same-store sales growth of 4% in its fiscal second quarter. Johnson Controls International — Shares rose nearly 2% after JPMorgan upgraded the stock to buy from neutral.

Persons: Piper Sandler, LSEG . Patterson, Alibaba, Morgan Stanley, Wells Fargo, —, Samantha Subin, Sean Conlon, Lisa Kailai Han, Jesse Pound, Yun Li, Scott Schnipper Organizations: Growers, Oracle, LSEG, Apple, Hewlett Packard Enterprise, Juniper Networks, Revenue, UTI Energy, Hong, Reuters, Johnson, JPMorgan, Anheuser, Busch Inbev SA, Equity Locations: California, U.S, Alibaba —, China, Hong Kong, Shanghai, Shenzhen, Wells

☆ Mate XT: China’s Huawei set to launch new tri-fold smartphone, its answer to Apple’s iPhone 16
▼ + stars: | 2024-09-09 | by ( Juliana Liu | ) edition.cnn.com time to read: +4 min

Successful sales of the Mate XT tri-fold smartphone, which began pre-orders on Saturday, would be another indication of the company’s sustained resurgence. It also comes after Chinese smartphone makers dominated the top five spots domestically on a quarterly basis for the first time ever, she said, pushing Apple to sixth place. “The close timing of Huawei and Apple’s product launches signals the start of a new competitive wave in the Chinese premium market,” Liu told CNN. Apple said that generative AI, like ChatGPT, on its iPhone 16 would allow users to create text and images with natural-language prompts. Last year, it launched an electric sedan to take on Tesla’s Model S. And it has big ambitions in AI.

Persons: Hong Kong CNN —, Richard Yu, ”, Amber Liu, ” Liu, Apple, Liu, Yu, It’s Organizations: Hong Kong CNN, Huawei, Apple, CNN, Counterpoint Research, Google, Nvidia Locations: China, Hong Kong, Shenzhen, Washington, Beijing, Weibo

☆ Huawei's new trifold phone got more than 2 million preorders in a few hours, just before Apple is set to announce new iPhones
▼ + stars: | 2024-09-09 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Read previewOne of China's top smartphone makers raked in 2.8 million preorders for its latest phone just one day after reservations began — even before people learned its price. Huawei's Mate XT, a trifold smartphone, is set to be unveiled during an event on Tuesday in China. On Huawei's online sales platform, which is selling the device in two colors, nearly 3 million people had registered interest at publication time. While pricing for the latest phone, which folds twice, is not known, Huawei has recently been competing with Apple in the same price territory. According to data compiled by third parties, Apple has recently fallen off the list of the top five best-selling smartphone makers in China.

Persons: —, Xiaomi Organizations: Service, Business, Apple, Huawei, IDC Locations: China, Shenzhen

☆ China's property woes and U.S. sanctions have hit some cities hard
▼ + stars: | 2024-09-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

BEIJING — China's property struggles and U.S. sanctions have significantly affected some of its cities, even as others benefit from Beijing's tech push, Milken Institute's best performing cities China index showed Tuesday. Since 2015, the index has studied China's large- and mid-sized cities for their economic vibrancy and growth prospects. The index looked at a group of 33 large cities and a group of 217 small cities, then ranked them separately. Historically, Wong pointed out, having control of Zhengzhou, Hefei, and Wuhan have been critical to ensuring control of the country. Correction: This story has been updated to reflect that there are 33 large cities and 217 smaller cities in the index.

Persons: Milken Institute's, Perry Wong, Wong Organizations: CNBC ., U.S, CNBC, Wuhan Locations: HANGZHOU, CHINA, China Vanke, Hangzhou, Zhejiang province, China, BEIJING, Zhejiang, Zhuhai, Guangdong, Hong Kong, Dongguan, The, Shenzhen, Beijing, Zhengzhou, Henan province, Hefei, Wuhan, Anhui, Central China's Hubei

☆ What's stalling China's stock market recovery, according to KraneShares' CIO
▼ + stars: | 2024-08-31 | by ( Anna Gleason | ) www.cnbc.com time to read: +1 min

China's slow post-Covid recovery could be a lasting headwind for its stock market. With the mainland's two largest indexes — the Shanghai Composite and the Shenzhen Composite — each negative so far in 2024, KraneShares Chief Investment Officer Brendan Ahern thinks government stimulus is necessary to kick-start the country's stock market performance. Ahern, whose firm runs the KraneShares CSI China Internet ETF (KWEB) , added that Chinese households are still reluctant to spend at pre-pandemic levels. This week's post-earnings plunge in PDD Holdings is emblematic of China's consumer pullback, according to Ahern. Ahern returned to the idea that a top-down economic recovery might be necessary to stimulate China's tech sector in particular.

Persons: China's, Brendan Ahern, CNBC's, we've, Ahern Organizations: Shenzhen, CSI China Internet, country's National Bureau, Statistics, Holdings Locations: Shanghai, China, country's

☆ Chinese companies are already investing in the U.S., ahead of any Trump tariffs
▼ + stars: | 2024-08-18 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Rising U.S.-China tensions have sent Chinese companies the signal that regardless of who wins the White House, overseas investment is the way to go. Chinese companies' interest in expanding overseas has accelerated since the pandemic as growth slowed domestically. "Top sectors that received Chinese investment have shifted from tertiary to manufacturing industries," the report said. "Interestingly, while Chinese companies have become more active in expanding business in ASEAN countries, they tend to maintain their presence in the West, suggesting the 'ASEAN+1' strategy may have increased." Even in the U.S, where new investment from China has fallen sharply, the report said that "Chinese companies have not materially withdrawn from the US market either."

Persons: Kamala Harris, Donald Trump, Trump, Marko Papic, Yotrio, Hanbell, Harris, it's, Tim Walz, —, Michael Bloom Organizations: House, Republican, BCA Research, NBC, BCA, U.S ., U.S, Vital, Shandong Yuma Sunshade, ., Xinquan America Holdings, Industrial, Trump, Democratic National Convention, NBC News . Studies of, Chamber of Commerce, Electric, European Union, China Council, Promotion of International Trade, Oxford Economics, ASEAN Locations: U.S, China, Beijing, America, Japan, U.S . Shenzhen, Austin , Texas, Shandong Yuma, Yuma Texas, Shanghai, Singapore, Texas, Chino , California, Georgia, Taiwan, Shenzhen, Hong, Europe, Southeast Asia, ASEAN

☆ China Evergrande's EV arm units to enter bankruptcy, reorganization proceedings
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: +1 min

The Evergrande Group headquarters building in Shenzhen is pictured on January 11, 2022 in Shenzhen, Guangdong Province of China. China Evergrande New Energy Vehicle said on Monday a local court had ruled that two of its units should enter into bankruptcy and be reorganized, a week after individual creditors of the units filed for such proceedings. Shares of the electric vehicle maker plunged 7% on July 29, a day after individual creditors of Evergrande New Energy Vehicle (Guangdong) and Evergrande Smart Automotive (Guangdong) sought court approval for the units to go through bankruptcy proceedings and be reorganized. The firm said a local court hearing was held on Aug. 2, and the court ordered the units to enter into such proceedings. The EV unit of embattled real estate developer China Evergrande Group in May updated the market that its liquidators were in talks with a potential buyer to take a stake in the company, thereby increasing chances of extending a new credit line for the firm to support production.

Organizations: Group, China Evergrande, Energy Vehicle, Evergrande New Energy Vehicle, Smart Automotive, China Evergrande Group Locations: Shenzhen, Guangdong Province of China, China, Guangdong

☆ Takeaways From Our Investigation Into Banned A.I. Chips in China
▼ + stars: | 2024-08-04 | by ( Ana Swanson | ) www.nytimes.com time to read: +1 min

The United States has tried, with some success, to halt China’s progress with artificial intelligence amid concerns that the technology is helping modernize the Chinese military. U.S. officials have set up one of the most extensive tech blockades ever attempted, banning the export to China of advanced A.I. chips, which are primarily made by Nvidia, a Silicon Valley firm that is one of the world’s most valuable companies. But given the vast profits at stake, businesses around the world have found ways to skirt the rules, an investigation by The New York Times has found. technology in China — part of a global effort to help China circumvent U.S. national security restrictions.

Organizations: Nvidia, The New York Times Locations: States, China, Silicon, Beijing, Kunshan, Shenzhen

☆ With Smugglers and Front Companies, China Is Skirting American A.I. Bans
▼ + stars: | 2024-08-04 | by ( Ana Swanson | Claire Fu | ) www.nytimes.com time to read: +1 min

In the southern Chinese city of Shenzhen, a mazelike market stretches for a half-mile, packed with stalls selling every type of electronic imaginable. One vendor said he could order the chips for delivery in two weeks. Another said companies came to the market ordering 200 or 300 chips from him at a time. The United States, with some success, has tried to control the export of these chips. technology — part of a global effort to help China circumvent U.S. restrictions amid the countries’ growing military rivalry.

Organizations: Nvidia, U.S ., New York Times Locations: Shenzhen, United States, U.S, Hong Kong, China

☆ China securities official expected to lead Shenzhen stock exchange, Reuters reports
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: +2 min

A woman walks by the gate of the Shenzhen Stock Exchange on Aug. 20, 2020 in Shenzhen, Guangdong Province of China. VCG | Visual China Group | Getty ImagesChina is expected to appoint a senior securities official to head its second-largest bourse, four sources said, filling a role that has been vacant for the unusually long period of seven months as the securities regulator reshuffled its leadership. Li Jizun, a civil servant who is now director of the general office at the China Securities Regulatory Commission (CSRC), is set to become general manager of the 27-trillion-yuan ($3.73-trillion) Shenzhen Stock Exchange, the sources said. The CSRC and the Shenzhen exchange did not immediately respond to a faxed request for comment. Sha had worked at the securities regulator for more than two decades before taking over at the Shenzhen exchange in mid-2020, after her predecessor Wang Jianjun was promoted to the party chief role before returning to the regulator as a vice chairman.

Persons: Li Jizun, Li, Sha Yan, Sha, Wang Jianjun Organizations: Shenzhen Stock Exchange, Visual China, Getty, bourse, China Securities Regulatory Commission, State Council, Shanghai's Nasdaq, Communist Party Locations: Shenzhen, Guangdong Province of China, China, Beijing, U.S

BYD launched the BYD Seal in Europe at the IAA auto show in Munich, Germany. BEIJING — Uber and BYD announced Wednesday that drivers on the ride-hailing platform can get pricing and financing deals for the Chinese company's electric cars, starting in Europe and Latin America. The two companies will also develop "autonomous-capable vehicles" for Uber's platform, according to a press release. The multi-year strategic partnership, which the companies said could bring 100,000 BYD cars to Uber, comes despite the EU following the U.S. this year in raising tariffs on imports of Chinese-made electric cars. The company surpassed Tesla in total vehicle production for two straight years and has ramped up overseas expansion, including investments in factories abroad.

Persons: BYD, BEIJING — Uber, Uber, Dara Khosrowshahi Organizations: U.S, Tesla Locations: Europe, Munich, Germany, BEIJING, Latin America, Shenzhen

☆ Chinese EV startups are spending more on research than Tesla is
▼ + stars: | 2024-07-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

CNBC | Evelyn ChengBEIJING – U.S.-listed Chinese electric car companies are spending more on research as a ratio to sales than Tesla , according to CNBC analysis of the four automakers' first-quarter earnings. Of the four U.S.-listed Chinese electric car companies, Nio ranked first, spending nearly 29% of revenue in the first three months of the year on research and development. He was referring to a popular term in China to describe fierce competition, especially in the electric car industry. She noted that can help Chinese electric car companies respond more quickly to customers and market needs than traditional automakers. Geely has also released an electric car architecture called SEA that it says allows for quicker production of different sized vehicles.

Persons: Evelyn Cheng, Paul Gong, Nio, Elon, Feng Shen, Shen, William Li, Li, Jing Yang, Zeekr's, Parent, Ren Xiangfei, Ren, Geely, Tesla, Taylor Ogan Organizations: CNBC, UBS, Elon Musk's, Ford Motor, China's Ministry of Industry, Information Technology, Fitch, China Passenger Car Association, Snow Bull, Tech Locations: Hefei, Evelyn Cheng BEIJING – U.S, U.S, China, Nio, Hefei city, Anhui, Shanghai, Asia, Pacific, Zhejiang province, Hong Kong, Shenzhen

☆ China Unexpectedly Cuts Interest Rate as World Markets Sag
▼ + stars: | 2024-07-24 | by ( Keith Bradsher | More About Keith Bradsher | ) www.nytimes.com time to read: +1 min

China’s central bank on Thursday cut a key interest rate, in Beijing’s second move this week to try to offset a weakening economy and a housing market crisis. The unexpected action came as stock markets fell sharply across most of Asia in early trading, in an echo of Wall Street’s sharp drop the day before. Market indexes were down 1 to 3 percent in Australia, Japan, South Korea and Hong Kong. That could reflect a favorable response by investors to the central bank’s rate move, or a sign of intervention by the Chinese government, which plays an extensive role in the country’s stock markets. As markets opened in China on Thursday, the People’s Bank of China, the central bank, reduced its interest rate for one-year loans to commercial banks to 2.3 percent, from 2.5 percent.

Organizations: People’s Bank of China Locations: Asia, Australia, Japan, South Korea, Hong Kong, Shanghai, Shenzhen, China

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Persons: we'll, Aeroplan, Chase, It's, cardholders, Uber, Wiley, Julie Mehretu, Peacock, Uber Cash, you’re, Bilt, Experian, TransUnion ™, Equifax, —, Hilton Organizations: Business, Business †, Marriott, Air Canada, Star Alliance, Read, Rewards, Canada, United Airlines, Lufthansa, ANA, Air, Air Canada Flying Air, Travelers, Air Canada Partner Airlines Aegean Airlines Aer Lingus Air China Air, Air Dolomiti Air India Air Mauritius Air New Zealand Air Serbia All Nippon Airways, Austrian, Avianca Azul, Airlines Bamboo Airways, Calm, North Cathay, Central Mountain Air Copa Airlines Croatia Airlines Egyptair Emirates Ethiopian Airlines Etihad Airways, GOL, Air Juneyao Airlines, Polish Airlines Lufthansa Middle East Airlines Olympic Air Oman Air PAL Airlines Scandinavian Airlines Shenzhen Airlines Singapore Airlines South African Airways SriLankan Airlines, TAP Air, Turkish Airlines United Virgin Australia Vistara, United, Air New Zealand, American Express, Chase, FDIC, Singapore Airlines, Global, TSA, Express, Hilton, Saks, Entertainment, Disney, ESPN, The New York Times, Street, American, Walmart, Saks Fifth, Capital, One, Premier, Chase Travel, Sapphire, Hotel, Chase Sapphire Reserve, Aeroplan, ™ Card, Mastercard, Alliance, Coast Hotels, Hilton Honors, Radisson, Wyndham, Avis, Budget, Apple, JetBlue, Fly United, All Nippon Airways Locations: Canada, Canadian, United, Air Canada, Air Canada Flying Air Canada, U.S, cardholder, Singapore Airlines ., rideshares, Hulu, Aeroplan, Alaska, Hyatt, America, Mexico, Central America, Caribbean, Europe, East, Africa, India, Asia, Oceania, Australia, New Zealand, South America, North America, West Coast, Hawaii, Seattle, Vancouver, Tokyo, Frankfurt, Chevron

☆ Could a dumb phone that's also a vape help break my iPhone addiction? I tried the Swype vape phone that's going viral.
▼ + stars: | 2024-07-20 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +8 min

I first learned of the Swype vape on social media, where a few doctored images of its screen had gone viral. AdvertisementNow, an obvious disclaimer: Business Insider does not endorse vaping or starting to vape simply because it seems like it would be funny to have a vape phone. (Samatha Cole of 404 Media also tried out the Swype vape; we didn't plan this. The touchscreen does display notifications when you swipe up — I could see messages from Signal, news push alerts, X notifications, and texts. This app seems designed not for the Swype vape but for some sort of wearable fitness tracker.

Persons: I'm, Vape, vaping, Pina Colada, Samatha Cole, Katie Notopoulos, it's, Samantha Cole, I've, Insider's Jordan Hart, Tim Cook Organizations: Service, Business, Media, Bluetooth, Aircraft, Google, Shenzhen Communication Technology, Apple Watch Locations: Shenzhen, China

The fleet of 500 vehicles operating in the city belongs to Apollo Go, a unit of Chinese tech giant Baidu (BIDU). There have also been complaints from residents in Wuhan about traffic jams, as driverless cars fail to respond to traffic lights. Uncertainty over the safety and reliability of driverless cars has cast a long shadow over the industry in the US. Last week, authorities in Shanghai’s Pudong New Area started handing out licenses to driverless car operators, including Apollo Go and Alibaba-backed AutoX, according to state media China Daily. California-based startup Pony.ai, backed by Toyota and Saudi Arabia, was also given the green light to test driverless vehicles in the financial hub.

Persons: You’ll, ” Tu Le, robotaxi, Apollo Go’s, Apollo, Waymo, Elon Musk, Go Organizations: Hong Kong CNN —, Weibo, Baidu, Global Times, Sino, CNN, National Bureau of Statistics, Apollo Go, United, GM, Department of Justice, McKinsey, Pudong New Area, Toyota, Beijing Municipal Bureau of, Information Technology, People’s Daily Locations: China, Hong Kong, Wuhan, Weibo, United States, United Arab Emirates, California, Beijing, Shenzhen, Pudong, . California, Saudi Arabia, Bao’an district, People’s

☆ A tech stock with a name sounding like 'Trump's Big Win' surged by the maximum in China after the Pennsylvania assassination attempt
▼ + stars: | 2024-07-16 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

Wisesoft stock surged 10% after former President Trump survived an assassination attempt. Wisesoft, known as a meme stock in China, often sees price jumps linked to Trump events. Chinese retail investors trade Wisesoft shares as a joke, leveraging its Trump-related name. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementA Chinese tech firm with a name that sounds like "Trump's Big Win" enjoyed a surge in its stock price on Monday after former President Donald Trump survived an assassination attempt in Pennsylvania.

Persons: Trump, —, Donald Trump, Chuanda Zhisheng Organizations: Trump, Service, Shenzhen Stock Exchange, Business Locations: China, Pennsylvania

☆ Travel nightmare: Man caught smuggling over 100 live snakes in his pants
▼ + stars: | 2024-07-11 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +1 min

China's Customs said it seized 104 snakes from a man traveling to mainland China on Tuesday. The man tried to smuggle the snakes in his pants pockets. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA man tried to smuggle more than 100 live snakes to mainland China in his pants with just adhesive tape and canvas bags. Officials said a male passenger entered mainland China through the Huanggang Port at Futian before officers intercepted him and conducted an inspection.

Persons: China's, — Organizations: China's Customs, Service, Business Locations: China, Weibo, Futian, Shenzhen's, China - Hong Kong

☆ Man caught attempting to smuggle 104 live snakes in his pants at China border
▼ + stars: | 2024-07-11 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Source: General Administration of Customs of the People's Republic of ChinaImage of Chinese customs officers holding bags of snakes seized at the Futian Port shared on July 9, 2024A man attempting to smuggle 104 live snakes in his pants was caught at a Chinese border this week, according to the country's customs authority. Upon inspection of his trousers, officers discovered six sealed bags containing a variety of exotic snakes, including milk snakes, western hognose snakes, corn snakes, Texas rat snakes and bullsnakes. An accompanying video showed two border agents holding up large transparent bags filled with the multi-colored live reptiles, often sought out as exotic pets. While none of the serpents were venomous, at least four of the species are considered alien to China, which could constitute a violation of Chinese biosafety law. The customs authority said it would hold the man legally responsible in accordance with the law without specifying an exact punishment.

Organizations: Administration, Customs Locations: People's Republic of China, Hong Kong, Shenzhen, Texas, China

☆ Looking for dividend stocks? Here are Morgan Stanley's top Asia picks for the quarter
▼ + stars: | 2024-07-11 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

The uncertainty has led Morgan Stanley to reiterate its recommendation to buy dividend stocks. The investment bank noted that the MSCI Asia Pacific ex-Japan High Dividend Index has slightly underperformed the MSCI Asia Pacific ex-Japan index in the second quarter of the year, albeit by only 0.34 percentage points. "We still prefer Dividend stocks given cautious risk sentiment in Asia/EM and see support in valuations for quality dividend stocks due to their defensiveness. Investor appetite on corporate reform and shareholder return theme in Asia/EM also remain high, which are likely to benefit dividend stocks." The company provides distillery services and Morgan Stanley sees it benefitting from "improving demand for high-end products and mid-market brands."

Persons: Morgan Stanley, Morgan, Wuliangye, — CNBC's Michael Bloom Organizations: Asia, UST, U.S . Treasury, Wuliangye Yibin Company, China's Shenzhen Stock Exchange, FTSE, G, Won, Korea Exchange, American Locations: Japan, Asia, Pacific, China, FTSE China, Korean, U.S

Hong Kong CNN —A man was caught trying to smuggle more than 100 live snakes into mainland China by stuffing them into his pants, according to the country’s customs authority. Customs officers in the southern Chinese city of Shenzhen intercepted the man traveling through Futian Port, a checkpoint between Hong Kong and mainland China, the agency said in a statement on Tuesday. Shenzhen CustomsDuring an inspection, officers found six canvas drawstring bags sealed with tape in the pockets of his pants. “Officers opened the bags and found that each bag contained a number of live snakes in various shapes and colors,” the statement said. “After counting, a total of 104 snakes were found.”Five species of snakes were later identified – the milk snake, western hognose snake, corn snake, Texas rat snake and bullsnake – four of which are non-native to China.

Persons: ” Organizations: Hong Kong CNN, Shenzhen Customs Locations: Hong Kong, China, Shenzhen, Futian Port, Texas, Macau

☆ The 4 Apple suppliers set to pop on iPhone 16 series launch: BofA
▼ + stars: | 2024-07-10 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

"A solid iPhone replacement cycle and spec upgrade should help HH's better sales/earnings in 2025-26," the investment bank's analysts wrote. The bank expects the China-based design and manufacturing giant to see strong margins as demand for its casings increases in tandem with better iPhone shipment cycles between 2025 and 2026. "We lift Foxconn Industrial Internet (FII)'s 2024-26E earnings by 2-6% on potentially better iPhone casing sales and strong AI server contribution," the analysts wrote. "We expect BYDE's casing profitability to gradually improve on better operation efficiency (higher automation rate, improving yield)," the analysts wrote. They have lifted the company's 2025-2026 earnings expectations by 2% to "reflect potentially better iPhone volume, robust auto expansion as well as rising AI-related contribution (server, robot)."

Persons: Ming, Chi Kuo, Ross Young, Hai, BofA, Foxconn, — CNBC's Michael Bloom Organizations: Tech, Apple, Bank of America, Hai Precision Industry, Taiwan Stock Exchange, American Depository, New, Industrial, Taiwan Stock Exchanges, U.S . Its, Shenzhen Stock Exchange, China 5G, Semiconductor, Hong Kong Exchange, Hong Locations: U.S, New Taiwan, China, Shanghai, Taiwan, U.S . Its Shanghai, Hong Kong

☆ Soaring U.S. stocks make China’s market look worse than it is. Names to watch
▼ + stars: | 2024-07-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mainland China investors these days are often focused on how well U.S. stocks are doing — and bemoaning tepid performance at home. But a look at first-half performance shows that many China stocks still rose by double-digits, including a few artificial intelligence plays. Zhongji Innolight Ranking third in CSI 300 performance in the first half was Zhongji Innolight, which climbed 70%. Nomura rates Zhongji Innolight a buy and its analysts met with the optical communication company in late June. The broad mainland China stock market, measured in Class A shares, has underperformed over the past two years, said Wanda Wang, a research manager at Morningstar.

Persons: BofA, Nomura, Wanda Wang, That's, Invesco's, — CNBC's Michael Bloom Organizations: Nvidia, CSI, Apple, Foxconn, Bank of America Securities, Industrial, FII, Avary Holding, Avary, Chartered Bank, HSBC, JPMorgan, Nomura, Nasdaq, U.S, Morningstar, Capital, Shenzhen Stock Exchange Locations: China, Shanghai, Shenzhen, Avary Holding Shenzhen, Hong Kong

☆ 6 Years, 4 Raw Human Stories From the New China
▼ + stars: | 2024-07-05 | by ( Michelle T. King | ) www.nytimes.com time to read: 1 min

PRIVATE REVOLUTIONS: Four Women Face China’s New Social Order, by Yuan YangThere’s an unforgettable moment in Yuan Yang’s new book, when an idealistic university student is tasked with conducting a survey by going door-to-door to random addresses in Shenzhen, China’s manufacturing megalopolis. In one poor neighborhood, the female student asks a young man, living in a tiny apartment with four other adults and a baby, to rate his current job satisfaction. His immediate reaction is to ask whether she has been sent by the Communist Party.

Persons: Yuan Yang There’s, Yuan Yang’s Organizations: Communist Party Locations: Shenzhen

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