DIRS.INFO The most relevant business & tech news

☆ Stocks making the biggest moves midday: Chevron, Tesla, Seagate Technology, United Rentals and more
▼ + stars: | 2023-01-26 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

Analysts called for earnings of 10 cents per share on $1.83 billion in revenue, according to Refinitiv. Though United Rentals missed analysts' expectations for per-share earnings, it was in-line with Wall Street's forecasts for revenue, per FactSet. The company forecasted 2023 revenue to range between $13.7 billion and $14.2 billion, surpassing analysts' estimates, according to FactSet. Sherwin-Williams earned an adjusted $1.89 per share last quarter, topping estimates by 2 cents, according to Refinitiv. Tractor Supply's EPS came in at $2.43 versus analysts' estimate of $2.35 per share, according to Refinitiv.

☆ Texas Instruments' forecasts miss estimates in sign of wider demand slump
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

Jan 24 (Reuters) - Chipmaker Texas Instruments (TI) (TXN.O) forecast first-quarter revenue and profit below Wall Street targets on Tuesday as a wider economic downturn threatens to shake demand even in end-markets that were resilient last year. The automotive market was the only exception to weak demand, TI Chief Executive Rich Templeton, who will step down in April, said on Tuesday. TI's revenue fell 3% to $4.67 billion, but beat analysts' average estimate of $4.62 billion, according to Refinitiv data. The company expects revenue of $4.17 billion to $4.53 billion in the first quarter, the mid-point of which is lower than estimates of $4.41 billion. It expects current-quarter earnings per share between $1.64 and $1.90, the mid-point of which also fell short of expectations.

☆ J&J forecasts 2023 profit above expectations on pharma strength
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

Shares of the drugmaker, however, fell 1% to $166.12 in premarket trading as fourth-quarter sales missed analysts' estimates due to lower demand for its medical devices. J&J expects to earn between $10.45 and $10.65 per share on an adjusted basis for 2023, above analysts' estimates of $10.35 per share profit at the midpoint. The higher 2023 profit forecast also reflects better-than-expected cost controls by J&J, Edward Jones analyst John Boylan said. Darzalex sales were $2.08 billion, while analysts were expecting $2.02 billion, according to Refinitiv. Excluding items, J&J earned $2.35 per share, above analysts' average estimates of $2.23 per share, according to IBES data from Refinitiv.

Organizations: & $

☆ Virginia Gov. Youngkin stokes 2024 campaign speculation after killing Ford battery plant over China links
▼ + stars: | 2023-01-22 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +7 min

But this week, Virginia Republican Gov. (Virginia doesn't allow governors to serve consecutive terms, so Youngkin can't seek re-election.) “There’s a logic to the politics of Youngkin’s decision,” said Liam Donovan, a Republican strategist and lobbyist. Gretchen Whitmer telling the Detroit News that Youngkin’s “political determination” created an “exciting opportunity” for her state. “Carlyle makes a lot of money out of China,” said Surovell, the Democratic state senator.

☆ Lagarde Says China’s Economic Rebound Revives Inflation Worries
▼ + stars: | 2023-01-20 | by ( Paul Hannon | ) www.wsj.com time to read: 1 min

A market in Lianyungang, in China’s eastern Jiangsu province. China lifted many of its zero-tolerance pandemic controls in early December. China’s abandonment of its zero-Covid policy is good news for global economic growth but it could give a fresh boost to inflation in Europe, European Central Bank President Christine Lagarde said on Friday“The change of this Covid policy will revive the economy,“ said Ms. Lagarde. “That is positive for the rest of the world, but there will be more inflationary pressure.“

The pan-European STOXX 600 (.STOXX) climbed 0.3% at 0936 GMT, boosted by gains in banks (.SX7P) and industrials (.SXNP). European shares were on track to snap a two-week winning streak, thanks to the worst single-day selloff so far this month on Thursday following disappointing earnings reports, weak U.S. economic data and hawkish comments from central bankers. Energy stocks (.SXEP) gained 0.8%, tracking firm crude prices on hopes of demand recovery in the world's second-biggest economy. "Europe has more exposure to China reopening and luxury is a big part of the European market," said Jamie Mills O'Brien, investment manager at Abrdn. "Some of the big players are pure China reopening bets."

☆ There's one options strategy that can help investors play China’s reopening, Barclays says
▼ + stars: | 2023-01-19 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

An options approach may be the best way for investors to play the recovery in Chinese stocks after the notoriously volatile stock market there has boomed to start 2023, a ccording to Barclays. One way to get some exposure to the uptrend while limiting potential risk is through a call spread on a Chinese-focused ETF, like the KraneShares CSI China Internet ETF (KWEB) , Barclays said. "We still recommend monetizing the China re-opening trade via options, and note that among China-related ETFs, call spreads are the most attractive on KWEB, given the relatively flat call skew," Pascale added. KWEB YTD mountain KWEB is off to a hot start in 2023. A call spread consists of buying one call option and selling another one at a higher strike price.

☆ NetEase Rejects Activision Offer to Extend China Licensing Partnership
▼ + stars: | 2023-01-18 | by ( Raffaele Huang | ) www.wsj.com time to read: 1 min

SINGAPORE—Chinese videogame publisher NetEase Inc. has refused Activision Blizzard Inc.’s offer to extend a licensing partnership, the two companies said, deepening a rift between the firms over operations in the world’s biggest mobile game market. Blizzard Entertainment Inc., an Activision Blizzard subsidiary, said Tuesday that it proposed to NetEase a six-month extension to the partnership that is set to expire next week. The licensing partnership has brought Blizzard’s globally popular videogames such as “World of Warcraft,” “Diablo III” and “Overwatch” to the Chinese market through NetEase.

☆ Activision Says NetEase Rejected Offer to Extend China Licensing Partnership
▼ + stars: | 2023-01-17 | by ( Raffaele Huang | ) www.wsj.com time to read: 1 min

NetEase recently launched a new version for its multiplayer role-playing game ‘Justice,’ with features that NetEase said are similar to Blizzard’s ‘World of Warcraft.’SINGAPORE— Activision Blizzard Inc. said NetEase Inc., its longtime partner in China, has refused its offer to extend a licensing partnership and that it is in talks with several videogame firms to find a new partner in the country. Blizzard Entertainment Inc., an Activision subsidiary, said Tuesday that it proposed to NetEase a six-month extension to the partnership that is set to expire next week. The licensing partnership has brought Blizzard’s globally popular videogames such as “World of Warcraft,” “Diablo III” and “Overwatch” to the Chinese market through NetEase.

☆ GDP impact of the Lunar New Year following China lifting its zero-Covid policy
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGDP impact of the Lunar New Year following China lifting its zero-Covid policyDerek Scissors, senior fellow at the American Enterprise Institute, and John Rutledge, chief investment strategist at Safanad, join 'The Exchange' to discuss the GDP impact of China lifting its zero-Covid policy, the spending habits of Chinese consumers and the need for property stability in China.

☆ China lifts ban on ride-hailing giant Didi's new user registration -company statement
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

Jan 16 (Reuters) - China's ride hailing giant Didi Global said in a statement on Monday it would be allowed to resume new user registration, after a more than year-long ban that curbed its growth. The company would take effective measures to ensure platform safety and data security, and safeguard national cyberspace security, it said in the statement. Didi has been awaiting approval to resume new user registrations and downloads of its 25 banned apps in China as a key step to a return to normal business since its regulatory troubles started in mid-2021. Didi will need its ride-hailing and other apps to be back on domestic app stores to win new users, though the statement did not specifically mention it. Reporting by Yingzhi Yang and Julie Zhu; Editing by Kim Coghill and Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ UAE energy minister: OPEC+ faces oil market volatility in both supply and demand
▼ + stars: | 2023-01-14 | by ( ) www.reuters.com time to read: +1 min

CAIRO, Jan 14 (Reuters) - OPEC+ is facing "volatile prospects" in oil markets both in supply and demand, UAE energy minister Suhail al-Mazrouei told Asharq TV on Saturday. OPEC+ production capacity was down 3.7 mln bpd due to fewer investments in the oil sector, Al-Mazrouei said. He also said UAE is taking preemptive steps to compensate for the reduced oil production capacity in some countries by bringing forward its five million barrel per day oil production capacity expansion to 2027 from a previous target of 2030. Regarding gas, Al-Mazrouei told the Atlantic Council Global Energy Summit earlier that the world would need natural gas for a long time and more investment was required to ensure supply security and affordable prices during the global energy transition. Reporting by Ahmed Tolba and Yasmin Hussein, Editing by Angus MacSwan and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Bangkok/Hong Kong CNN —For years, Thailand welcomed legions of Chinese tourists to its golden beaches, shopping districts and striking temples. Three government ministers headed to Bangkok’s international airport earlier this week to personally greet the first group of Chinese tourists to arrive after China lifted travel restrictions. Amazing Thailand always warmly welcomes our Chinese family.”Travelers from a Xiamen Airlines flight being welcomed by Thai officials upon arrival at Suvarnabhumi Airport in Bangkok on Jan. 9, 2023. “The arrival of tourists from China, as well as from countries around the world, to Thailand is expected to increase continually. In Thailand, that’s been no exception, with travel companies beginning to reactivate Chinese social marketing campaigns and increase staffing, according to Barnett.

☆ China International Flights to Recover Slowly After Covid Reopening
▼ + stars: | 2023-01-12 | by ( Rachel Liang | Dan Strumpf | ) www.wsj.com time to read: 1 min

International flights are likely to rebound slowly after China lifted its Covid-19 border restrictions, with industry experts suggesting it would take months for a strong recovery and even longer to return to prepandemic levels. Governments have tightened entry requirements for passengers coming from China due to a large Covid-19 outbreak there, and Beijing has responded with travel restrictions of its own on some of those countries. Aviation regulators are still negotiating bilaterally with their Chinese counterparts on increasing flights. Plane ticket prices remain high, while airlines must also reroute their jets to fly again to China.

China is likely to nominate Xie Feng , a vice foreign minister and a U.S. specialist, as its new ambassador to Washington, according to people familiar with the matter, continuing a gradual tempering of the abrasive “Wolf Warrior” style that has defined Chinese diplomacy in recent years. Beijing has been recalibrating its foreign policy in a bid to stabilize fraught ties with Washington and mitigate damage done to China’s global standing by its handling of the Covid-19 pandemic and forceful pursuit of security, industrial and territorial interests, according to people working inside the Chinese Foreign Ministry. The hard-charging ethos that took hold among Chinese diplomats during the Trump administration, when Beijing saw itself as being under assault from the West, needs to be adjusted to reflect a changing international environment, they said.

☆ A Chinese bank is offering customers a Pfizer COVID-19 vaccine if they deposit $500,000 into an account
▼ + stars: | 2023-01-10 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +2 min

A Chinese state-owned bank in Hong Kong is offering a Pfizer shot to customers who deposit about $500,000. The incentive signals mainland Chinese citizens' desire to receive a western developed mRNA vaccine. The "privileges" are being offered after mainland China lifted travel restrictions to Hong Kong. BioNTech's Pfizer mRNA vaccine is not widely available in mainland China, which has mostly relied on Chinese-produced vaccines that don't currently include mRNA technology. However, permanent residents of Hong Kong and Macau have had access to free Pfizer vaccines, according to Fortune.

☆ Rebounding EM stocks pass "bull market" threshold
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

LONDON, Jan 9 (Reuters) - Fast-charging emerging market stocks were entered so-called "bull market" territory on Monday, as another China-driven surge in Asia's biggest bourses pushed MSCI's main EM index 20% above its last major trough back in October. The MSCI Emerging Markets Index (.MSCIEF), which jumped 2.4% in its fifth straight sessions of gains on Monday, covers 24 countries and almost 1,400 firms. Chinese stocks, which account for a third of the MSCIEF index and far more when China-focused firms listed elsewhere are included, have surged almost 45% since the lows. Taiwanese stocks and South Korean stocks which have respective 13.8% and 11.3% MSCIEF weightings have also jumped roughly 18% and 20%. Reuters GraphicsReporting by Marc Jones; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

[1/5] Passengers push their luggage through the international arrivals hall at Beijing Capital International Airport after China lifted the coronavirus disease (COVID-19) quarantine requirement for inbound travellers in Beijing, China January 8, 2023. China's management of COVID was technically downgraded to "Category B" on Sunday, although many curbs have been dropped for weeks. Officially, China has reported just 5,272 COVID-related deaths as of Jan.8, one of the lowest rates of death from the infection in the world. State broadcaster CCTV reported on Sunday that direct flights from South Korea to China were close to sold out. South Korea like many other countries now requires travellers from China, Macau and Hong Kong to provide negative COVID test results before departure.

Long queues formed at the Hong Kong international airport's check-in counters for flights to mainland cities including Beijing, Tianjin and Xiamen. Hong Kong media outlets estimated that thousands were crossing. Beijing has quotas on the number of people who can travel between Hong Kong and China each day. I'm thrilled, I can't believe it’s happening,” said a businesswoman surnamed Shen, 55, who flew in from Hong Kong. The World Health Organisation said on Wednesday that China's COVID data underrepresents the number of hospitalisations and deaths from the disease.

[1/2] The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. natural gas tumbled about 18% in the first week of January, the biggest slide on record to start a year, according to Refinitiv Eikon data. The 12% drop in distillate futures , was the biggest dive to start a year since 1991. In natural gas, U.S. futures fell further on Friday, dropping 5% to $3.52 per million British thermal units during the session, its lowest since July 2021. This week, it forecast U.S. natural gas prices would drop to $4.00-$4.20 per million British thermal units in the second quarter through third quarter.

☆ UBS: Here's how to invest in China in 2023 as the dramatic end to zero-COVID policies upends markets and boosts the domestic economy
▼ + stars: | 2023-01-05 | by ( Marley Jay | ) www.businessinsider.com time to read: +3 min

In 2022, experts said that the global economy would get a boost after China lifted its strict zero-COVID restrictions. He added that later in the year the tide could turn, and he expects China's economy to grow 5% by the end of 2023. "China's reopening is also a positive for Asian IG and HY bonds, in particular Chinese property developers," he said. That's had a significant effect on the global economy because China has been the largest single source of global economic growth for many years. That means the fate of China's economy this year will have a major effect on the performance of the global economy.

☆ Citi is bearish on lithium in the short term, but names 3 stocks
▼ + stars: | 2023-01-05 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

It expects lithium demand to increase its compound annual growth rate by around 20% by 2030, and that its supply will struggle to catch up. Names to watch Citi named three stocks to watch despite its cautious lithium outlook. Citi also likes Livent Corporation , which it gave a $27 target price, or 42% upside. For instance, Argentina recently imposed an export tax on certain products including lithium, Citi noted. Citi downgraded the stock from "buy" to "neutral" in mid-December, giving it a price target of $92 — with upside of about 20%.

☆ Hong Kong Stock Exchange Woos Global Companies After Expanding China Link
▼ + stars: | 2023-01-04 | by ( Jing Yang | ) www.wsj.com time to read: 1 min

Hong Kong is making a pitch to multinational companies to list on its stock market, despite heightened tensions between China and the West. The city’s stock exchange hopes a new initiative that allows mainland Chinese investors to trade shares of international companies will present a compelling case for some of the world’s largest businesses to raise funds in the Asian financial hub.

☆ Futures edge higher ahead of Fed meeting minutes
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures up: Dow 0.20%, S&P 0.31%, Nasdaq 0.46%Jan 4 (Reuters) - U.S. stock index futures edged higher on Wednesday as hopes of an economic recovery in China lifted sentiment, while focus was also on minutes from the Federal Reserve's December policy meeting for clues on the outlook for interest rate hikes. Minutes from the Fed's previous meeting, when it raised interest rates by half a percentage point and cautioned rates may need to remain higher for longer, are due to be released at 2 p.m. "The minutes of the latest Fed meeting will be devoured later, in a search for clues about how much higher rates will go before policymakers consider pressing the pause button," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. ET, Dow e-minis were up 65 points, or 0.2%, S&P 500 e-minis were up 11.75 points, or 0.31%, and Nasdaq 100 e-minis were up 50.25 points, or 0.46%. Reporting by Shubham Batra and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Most EU countries back COVID pre-departure testing for flights from China
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, Jan 3 (Reuters) - Most European Union countries favour introducing pre-departure COVID testing for travellers from China, the European Commission said on Tuesday, as Beijing plans to lift travel restrictions on its citizens despite a wave of COVID infections. The common EU approach emerged after a meeting on Tuesday of the Health Security Committee, an EU advisory body of national health experts from the EU-s 27 countries and chaired by the Commission. "The overwhelming majority of countries are in favour of pre-departure testing," a Commission spokesman said. The spokesman said all EU countries agreed they needed a coordinated approach to the changing situation in China and to deal with implications of increased travel from China to Europe after China lifts its stringent pandemic polices on Jan 8th. The European Centre for Disease Prevention and Control said last week it did not currently recommend measures on travellers from China.

Search resuls for: "China Li"

25 mentions found