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☆ 8 things you need to know about EV startup founder William Li — known as China's version of Elon Musk
▼ + stars: | 2024-03-30 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +6 min

The Shanghai-based premium EV company was co-founded in 2014 by its CEO, William Li. William Li, also known as Bin Li, has been dubbed the "Elon Musk of China" for his push to develop self-driving EVs and his loyal fan base. He co-founded his first major company in his mid-twentiesBitauto, a car comparison website, was co-founded by Li in 2000. AdvertisementAnyone who purchases a Nio car can access "Nio Houses" equipped with meeting rooms, lounges, baristas, and supervised kids' play areas. To Li's dismay, Nio cars are not yet available for sale in the USLi has expressed dissatisfaction with the US tariffs on Chinese-made EVs.

Persons: William Li, Li, —, Bin Li, Elon, EVs, he's, Tesla, Zoey Zhang Li, Nio, Li livestreamed, HECTOR RETAMAL, ET7, ALY, Elon Musk Organizations: Service, REUTERS, Peking University, New York Stock Exchange, NYSE, CNBC, Reuters Locations: China, Shanghai, Anhui, Nio, Europe, Xiamen, Mexico

☆ An ancient dinner still sits in a Bronze Age village 2,850 years later
▼ + stars: | 2024-03-23 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

First, one of the crew found a marble head of a Roman lady, and two weeks later its bust surfaced nearby, reuniting the pieces. Cambridge Archaeological UnitMust Farm was a thriving Bronze Age stilt village, perched above a river in eastern England, when it burned down 2,850 years ago — just nine months after its inhabitants had built it. The site, acclaimed by experts as “Britain’s Pompeii,” preserved rare information that reveals a new, less hierarchical portrait of Bronze Age society. Malhan/MPIAAstronomers have spied two streams of ancient stars that likely helped build the Milky Way galaxy billions of years ago. They find wonder in planets beyond our solar system and discoveries from the ancient world.

Persons: Earl of Exeter, ”, Chris Wakefield, Kermit the, Jim Henson’s, Payne, Shiva, Li Yibo, Ashley Strickland, Katie Hunt Organizations: CNN, Burghley, University of Cambridge, Smithsonian National Museum of, NASA, Force, Xinhua News Agency, Getty, CNN Space, Science Locations: United Kingdom, Peterborough, England, Cambridge, Africa, Ethiopia’s, China, Shaanxi, Iran

☆ Teacher Li: A Chinese dissident in Europe is enraging Beijing. Now police are coming for his social media followers
▼ + stars: | 2024-03-18 | by ( Nectar Gan | Yong Xiong | ) edition.cnn.com time to read: +10 min

And now, Chinese authorities appear to be going after his followers in China. Li Ying spends most of his days in front of the computer running his X account. Li’s warnings sent shock waves through the small but influential Chinese X sphere. On X, Li Ying’s account provided a window into the outpouring of grief and disaffection. “The Chinese authorities are fearful of young people like Teacher Li, seeing him as a threat to its rule,” Wang said.

Persons: Lee, Xi Jinping, –, Li, ”, ” Lee, Li Ying, Li reposts, Elon Musk, Covid lockdowns, ” Li, “, Yaqiu Wang, ‘, ’ ”, Li Keqiang, Shen Xiang, ramped, Li Keqiang’s, Xi, it’s, it’ll, ” Wang, Wang Organizations: Hong Kong CNN, Twitter, US, Facebook, Elon, Ministry of Public Security, CNN, YouTube, Future Publishing, Getty, Freedom Locations: China, Hong Kong, Beijing, Italy, Washington, Anhui province, “

☆ China's champion gymnast Li Ning considers taking company private, sources say
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +1 min

Li Ning, chairman and co-chief executive officer of Li Ning Co., during a news conference in Hong Kong, China, on Friday, March 17, 2023. Chinese billionaire entrepreneur and Olympic champion Li Ning is considering taking his namesake sportswear company private from the Hong Kong stock exchange, four people said, adding to a string of such potential deals in a faltering market. Li, 61, founded Li Ning Co a few years after retiring from a decorated gymnastics career in 1988. The discussions to take Li Ning Co private are in the early stages and details have not been finalized, said the sources, who declined to be identified as the information was confidential. Li Ning made its Hong Kong debut in 2004.

Persons: Li Ning, Li Organizations: Hong, Li Ning Co Ltd, HK, TPG, Hillhouse Investment, Hong Kong, Reuters Locations: Hong Kong, China, Hong

☆ Morgan Stanley recommends buying this trio of Chinese EV makers after 2024 pullback
▼ + stars: | 2024-03-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

On the other hand, BYD (equal weight) will likely face another round of downward revisions from analysts due to market saturation in China, Hsiao wrote. "Although the macroeconomic and operational environment is certainly challenging, we think the negative forces influencing the trio of EV stocks are more or less [already reflected] in stock prices," Hsiao told clients. Li Auto has booked several profitable quarters in a row, demonstrating solid execution of model launches and effective cost management, Hsiao told clients. Morgan Stanley has boosted total sales volume for the company by 12% in 2024 and 8% in 2025, reflecting stronger demand for new models. Morgan Stanley has a price target of $10 for Nio's ADRs, equal to roughly 72% upside from the previous close of $5.80.

Persons: Morgan Stanley, Tim Hsiao, Hsiao, Li Auto, Li, Xpeng, Xpeng's, Nio's ADRs Organizations: Li Locations: China, Europe, Latin America, Southeast Asia

☆ Analysis: China worried about return of Trump, but also sees opportunities if he wins 2024 election
▼ + stars: | 2024-03-10 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +15 min

Then-US President Donald Trump and his wife Melania with Chinese leader Xi Jinping and his wife Peng Liyuan at Beijing's Forbidden City in 2017. “If this decoupling is carried out by Trump 2.0 in a very forceful way, the impact on China is going to be very severe. But experts say China’s business and official sectors are likely already considering contingency plans. Chinese leader Xi Jinping and Russian President Vladimir Putin leave a reception following talks at the Kremlin in March 2023. “Whoever wins – the structure of (US) confrontation, competition, pressure to China are still there,” he said.

Persons: Joe Biden, Xi, Donald Trump, didn’t, –, Biden, Wang Yi, Trump, He’s, Trump’s, Brian Wong, ” Wong, Lintao Zhang, Obama, Melania, “, Xi Jinping, Peng Liyuan, Xie Huanchi, he’s, ”, Bala Ramasamy, Shen Dingli, Premier Li Qiang, Ronald Reagan, “ Biden, Shen, ” Trump, skeptically, Vladimir Putin, Putin, Pavel Byrkin, Wong, it’s, Wang Yiwei Organizations: Beijing CNN —, Communist Party, Biden, Senior, Trump’s “, University of Hong Kong’s, Contemporary, House, oceanside, Trump, of, Forbidden, Huawei, Oxford Economics, China Europe International Business School, Premier, American, South Korea Navy, Asia –, Russia’s, NATO, Europe, Kremlin, Getty, South Korea –, White House, Renmin University Locations: China, Beijing, State, US, Russia, Communist, Contemporary China, Taiwan, Lago, City, Xinhua, Shanghai, Southeast Asia, Latin America, Europe, China's Qingdao Port, –, Asia, Seoul, Tokyo, Ukraine, United States, AFP, Japan, South Korea, America, Washington, Hong Kong, South China

☆ Stocks making the biggest moves premarket: Carvana, Gap, Eli Lilly, UBS and more
▼ + stars: | 2024-03-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

The database software maker posted adjusted earnings of 86 cents per share on revenue of $458 million. Analysts had called for earnings of 47 cents per share and $433 million in revenue, according to LSEG. DocuSign reported fourth-quarter adjusted earnings of 76 cents per share on revenue of $712 million for the period. According to analysts surveyed by LSEG, Wall Street had expected earnings of 64 cents per share on $699 million in revenue. Eli Lilly — Shares slipped 1% premarket after the U.S. Food and Drug Administration delayed approving its Alzheimer's drug, donanemab.

Persons: MongoDB, DocuSign, Deutsche, Li, Morgan Stanley, LSEG, Eli Lilly —, —, Sarah Min, Michelle Fox, Jesse Pound Organizations: RBC, Li Auto, Deutsche Bank, Navy, UBS — U.S, UBS, Marvell Technology, Broadcom, Revenue, Textron —, Bank of America, Textron, New York Community Bancorp, Moody's, U.S . Food, Drug Administration, Costco —, LSEG Locations: Swiss, U.S

☆ Stocks making the biggest moves midday: Nvidia, Marvell Technology, Costco, Eli Lilly and more
▼ + stars: | 2024-03-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Marvell Technology — The chip company sank more than 11% on light first-quarter earnings and revenue guidance. Marvell Technology said it anticipated adjusted earnings of 23 cents per share for the first quarter, below the 40 cents expected by analysts polled by LSEG, formerly known as Refinitiv. Samsara posted $276 million in revenue, compared to analysts' expectations for $258 million, per LSEG. DocuSign reported adjusted earnings of 76 cents per share on revenue of $712 million for the period. Analysts polled by LSEG had called for earnings of 64 cents per share on $699 million in revenue.

Persons: Carvana, Eli Lilly —, Goldman Sachs, MongoDB, NYCB, DocuSign, LSEG, Morgan Stanley, Yun Li, Jesse Pound, Pia Singh, Sarah Min, Michelle Fox, Hakyung Kim Organizations: Nvidia —, Nvidia, Marvell Technology, LSEG, RBC Capital Markets, Costco, U.S . Food, Drug Administration, Broadcom, Textron — Textron, Bank of America, Old Navy, New York Community Bancorp, Moody's Investors Service, Amylyx Pharmaceuticals, UBS — U.S, UBS, Auto, Deutsche Bank Locations: U.S, Swiss, China

☆ More Chinese Women Choosing Singledom as Economy Stutters
▼ + stars: | 2024-03-06 | by ( March | At P.M. | ) www.usnews.com time to read: +6 min

Chinese Premier Li Qiang also vowed to "work towards a birth-friendly society" and boost childcare services in this year's government work report. In Shanghai, this figure reached 30.6 for men and 29.2 for women last year, according to city statistics. Long-term single lifestyles are gradually becoming more widespread in China, giving rise to online communities of mostly single women who seek solidarity from like-minded people. Decades of the one-child policy have led to 32.3 million more men than women in 2022, according to official data. "Well-educated women in search of supportive life partners find fewer suitable men who also endorse women's rights."

Persons: Laurie Chen XIAN, Chai Wanrou, didn't, Xi Jinping, Li Qiang, stigmatised, influencers, China's Instagram, Liao Yueyi, I've, Xiaoling Shu, Davis, Shu, Laurie Chen, Farah Master, Miral Fahmy Organizations: Reuters, Communist Party, Communist Youth League, University of California Locations: China, Xian, Shanghai, United States, Xiaohongshu, Nanning, Hong Kong

☆ China may have to resort to a tried-and-tested tactic to power its 'new leap forward'
▼ + stars: | 2024-03-06 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +5 min

Liu Liqun | Corbis Documentary | Getty ImagesChina may want a "new leap forward" in "productive forces" — but President Xi Jinping may need to resort to an old tactic to hit the country's ambitious growth target this year, one economist warns. While scant on specifics, the work report appears to suggest Beijing is refraining from the aggressive, bazooka-like stimulus that some markets observers were expecting. China has historically resorted to infrastructure building as a short-term fix to boost growth, particularly after the 2008-09 financial crisis. Goldman Sachs economists said that this pledge is the "most important positive surprise" from this year's government work report. Chinese Premier Li Qiang delivers a speech during the opening of the second session of the 14th National People's Congress at The Great Hall of People on March 5, 2024 in Beijing, China.

Persons: Liu Liqun, Xi Jinping, Wang Dan, Wang, Erica Tan, Goldman Sachs, Li Qiang, Li, Lintao Zhang Organizations: Bund, Getty, Hang Seng Bank, CNBC, China Investment Corporation, Maybank, Seng Bank, National People's Congress, of People Locations: China, Beijing, overcapacity, Covid, Gorges

☆ Singapore's Sea Limited posts first profitable year amid efforts to defend market share against Lazada, TikTok
▼ + stars: | 2024-03-05 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

Southeast Asian tech giant Sea Limited on Monday posted its first profitable year amid efforts to defend market share against Alibaba -owned Lazada and TikTok. Net income in 2023 was $162.7 million, as compared to a net loss of $1.7 billion in 2022. Sea's e-commerce arm Shopee made a "meaningful gain in market share" in 2023 despite "intensified competition in Southeast Asia," the firm said on Monday. Sea also said Shopee's market share in the region has "solidified" and the firm intends to "maintain our market share in 2024." Tokopedia merged with TikTok Shop in Indonesia to form an enlarged Tokopedia entity, in which TikTok will take a controlling stake of 75.01%.

Persons: Forrest Li, Li, Sea's, Shopee Organizations: Alibaba Locations: MariBank, Singapore, Sea's New York, Southeast Asia, Indonesia

☆ China EV shares are feeling the heat as price war concerns grow
▼ + stars: | 2024-03-05 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

While consumer interest is improving, the "wait for a better price" sentiment continues to constrain sales volumes for EV makers, Ding said. watch nowAt least 30% of China's entire auto market is made up of electric vehicles, with most of those EVs coming from homegrown brands. Hong Kong-listed shares of Li Auto fell 3.9%, while Nio shares dropped 3.6% and Xpeng was down 1.8%. BYD shares were up 0.4%. Despite price cuts announced earlier, Tesla still lost market share in China in January, mainly in the large cities, according to Morgan Stanley.

Persons: Tesla, Yuqian Ding, Ding, Xpeng, Morgan Stanley, Li, Li Auto, SCMP, Zhu Jiangming, Nio, BYD, Bernstein Organizations: Getty, HSBC Qianhai, CNBC, Li Auto, China Morning, Reuters Locations: Hong Kong, China, Stellantis

The work report presented Tuesday by Premier Li Qiang to the National People’s Congress outlined plans for modest increases in overall spending and a hefty 7.2% jump in funding for the military. Li's work report is designed to showcase for the nation achievements in the past year and convey the top leadership's priorities for this year. Photos You Should See View All 60 ImagesApart from the ambitious growth target, “There is no reform, no liberalization, no action plan and no messaging of reassurance,” he said. — Another 10.4 billion yuan ($1.4 billion) will go to upgrading industries and modernizing manufacturing. “We will work to build China's self-reliance and strength in science and technology,” the report said.

Persons: it’s, Premier Li Qiang, Li, Xi Jinping's, James Zimmerman, ”, Tianchen Xu, What's, —, Xu, ” Lynn Song Organizations: BEIJING, Premier, National People’s, Communist, American Chamber of Commerce, Economist Intelligence Unit, Baidu, Greater China, ING Economics, — Locations: China, Beijing, Washington, Hong Kong, Greater

☆ Xi's growing paranoia and secrecy are signs of just how badly China's economy is doing
▼ + stars: | 2024-03-05 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Under Xi Jinping's rule, China's economy has slowed after decades of growth. After decades of growth, China's economy is slowing, with a property market crisis causing consumer debt, deflation, a slowdown in spending, and an unemployment crisis. Xi walks a tightropeAs well as moves to close down scrutiny, the Party is unveiling ambitious measures to boost China's economy. But analysts say China continues to face deep economic problems. China's growth target, which is in line with last year's official growth figures, appears modest in comparison to the 10% annual growth it has experienced on average for the past few decades.

Persons: Xi, Premier Li Qiang, —, Xi Jinping, Xi doesn't, Jonathan Ward, Ward, Ali Wyne, Li, Vladimir Putin's Organizations: Premier, Analysts, Service, Communist Party, The New York Times, Hudson Institute, Chinese Communist Party, Crisis, BBC Locations: China, Beijing, Vladimir Putin's Russia, Ukraine, Iran, Moscow, Tehran

But Mr. Li maintained that China was on the right track. China had “withstood external pressures and overcome internal hardships,” Mr. Li told the National People’s Congress, a Communist Party controlled body that approves laws and budgets. “The economy is generally rebounding.”The National People’s Congress, a choreographed weeklong event, typically focuses on the government’s near-term initiatives, especially economic objectives. China’s growth goal, and the ways that the government is attempting to achieve it, are under intense international scrutiny this year. Communist Party leaders are trying to restore confidence in China’s long-term prospects and to harness new drivers of growth, such as clean energy and electric vehicles.

Persons: Li, ” Mr, Li’s Organizations: Stock, National People’s Congress, Communist Party, People’s Congress Locations: China

☆ Stocks making the biggest moves midday: Macy's, Super Micro Computer, Lyft, DoorDash and more
▼ + stars: | 2024-03-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Super Micro Computer , Deckers Outdoor — The technology firm and athletic footwear designer respectively popped 27% and nearly 3% after S & P Dow Jones Indices announced Friday that the two stocks would be added to the S & P 500 on March 18. Super Micro Computer and Deckers Outdoor will replace Zions Bancorpation and Whirlpool , which will move to the S & P MidCap 400 Index. Macy's — Shares skyrocketed 16% after Arkhouse Management said it and Brigade Capital Management have raised their offer for the department store . DoorDash — Shares jumped more than 5% after RBC upgraded the food delivery company to outperform from sector perform. Lyft — The ride-sharing platform added 6% after RBC upgraded the stock to an outperform rating from sector perform.

Persons: Dow, Zions, —, Lyft, Morgan Stanley, Li, Piper Sandler, Ford, CNBC's Michelle Fox, Alexander Harring, Hakyung Kim, Tanaya Macheel, Yun Li, Jesse Pound, Samantha Subin Organizations: Micro Computer, Dow Jones, Whirlpool, Arkhouse Management, Brigade Capital Management, Apple, European, Miners, Marathon Digital, Cipher Mining, Iris Energy, RBC, Kyverna Therapeutics, Wells, JPMorgan, Ferrari —, Citi, Li Auto, Dutch Bros, American Airlines —, Max Locations: Wells Fargo

☆ Stocks making the biggest moves premarket: Super Micro Computer, Deckers Outdoor, Macy's and more
▼ + stars: | 2024-03-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Super Micro Computer , Deckers Outdoor — Shares of Super Micro Computer and Deckers Outdoor jumped 12% and 5%, respectively, after S & P Dow Jones Indices said Friday the two companies would be added to the S & P 500 later this month. They will replace Whirlpool and Zion Bancorp, which will move to the S & P MidCap 400 index as of the March 18 open. Macy's — Macy's stock skyrocketed nearly 17% after Arkhouse Management upped its buyout offer for the department store chain to $24 from $21 a share, or about $6.6 billion. Crypto stocks – Companies whose performance is tied to the price of bitcoin rose in premarket trading after the cryptocurrency touched another two-year high . Spirit AeroSystems , Boeing — Shares of the fuselage maker rose nearly 3%.

Persons: Dow, CleanSpark, AeroSystems, Lyft, Morgan Stanley, Li Auto, Piper Sandler, Brian Mullan, — CNBC's Lisa Han, Fred Imbert, Tanaya, Hakyung Kim, Jesse Pound, Michelle Fox Organizations: Micro Computer, Dow Jones, Whirlpool, Zion Bancorp, Arkhouse Management, Apple, European Commission, Marathon, Iris Energy, RBC, Boeing —, Boeing, Max, —, Citi, Li Auto, Li, Mobile

☆ The best EV plays are now in China. Analysts are raising price targets on this stock
▼ + stars: | 2024-03-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

With Apple reportedly out of the electric car game and Tesla losing market share in some Chinese cities, the best EV stock plays are arguably now all based in China. Li Auto 's market share waned, and Morgan Stanley analysts are watching whether there will be a boost from new models. "Following our upgrade earlier this month, Li Auto delivered impressive earnings/guidance, further cementing its position as a top-tier China OEM," Deutsche Bank analysts said in a late February report. Li Auto management said they expect gross margin to fluctuate between 10% and 25%, but generally remain above 20%. But even with its premium pricing the company isn't immune from intense competition in China's electric car market.

Persons: Morgan Stanley, Nio, BYD, Li Auto, Li, Li Auto's, Weibing Lu, Xi Jinping, — CNBC's Michael Bloom Organizations: Apple, Friday, China, Deutsche Bank, Li Auto, Bank of America Securities, Huawei, Forseven, CYVN Holdings Locations: China, Hong Kong, Shanghai, U.S, Europe, Japan, East, Central Asia, Abu Dhabi, Norway

☆ The Fed can still break markets. Here’s how
▼ + stars: | 2024-02-13 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Those gains came even as Federal Reserve officials attempted to reduce investors’ lofty expectations for a plethora of interest rate cuts this year. It is now signaling that interest rates could come this year but not until spring or summer. That means they think the Fed is keeping interest rates too high and could potentially slow down economic growth too much and risk a recession. That makes the NFL and the Super Bowl all the more valuable to advertisers trying to reach a mass market. Li-Lac Chocolates, which calls itself the oldest chocolate shop in Manhattan, told CNN that their raw chocolate prices are up 13% this February compared to a year ago.

Persons: Torsten Slok, Jerome Powell, Raphael Bostic, Olivier Darcy, Sunday’s, CNN’s John Towfighi, ”, Michele Buck Organizations: CNN Business, Bell, New York CNN, Big Tech, Federal Reserve, Investors, Nasdaq, Federal, Apollo Global Management, National Association for Business, Atlanta Fed, CNN, Kansas City Chiefs, San Francisco 49ers, CBS, Chiefs, Philadelphia Eagles, NFL, Allegiant, NFC, Fox, AFC, Super Bowl, Companies, Hershey Co Locations: New York, There’s, Las Vegas, West Africa, North America, Manhattan

☆ With a low cocoa supply, this Valentine’s Day chocolate prices are up
▼ + stars: | 2024-02-12 | by ( John Towfighi | ) edition.cnn.com time to read: +9 min

Rising cocoa prices aren’t the only concern for customers this Valentine's Day. Last Thursday, Hershey Co. said it would cut 5% of its workforce after historic cocoa prices and inflation-weary consumers dampened fourth quarter earnings. “And it looks like it’s not necessarily going to subside anytime soon.”The Supreme Valentine’s Day SweetRoughly 92% of Americans say they plan to share chocolate and candy for Valentine’s Day this year, according to the National Confectioners Association. In 2023, Valentine’s Day chocolate and candy sales exceeded $4 billion, the NCA says. Issaka said that while high demand and low supply raise prices, cocoa farmers are getting squeezed.

Persons: ”, Michele Buck, Billy Roberts, ” Roberts, Lindsey Nicholson, Marnie Ives, Ives, ” Ives, “ It’s, Karl Schneider, Roberts’s, Issifu, Issaka, ” Issaka, “ I’m, Cote, Will Kletter, Sabi Ibarra Guerrero, Uwe Gneiting, Gneiting, Joke Aerts, Aerts, ” Aerts, Sia Kambou, Price, Tony’s, “, they’ve, CNN’s Eva Rothenberg Organizations: CNN, Hershey Co, National Confectioners Association, NCA, Cocoa, Oxfam America, Getty, Fairtrade, Cote d’Ivoire, “ Locations: West Africa, North America, Manhattan, Queens , New York, Neck, NY, Bloomfield , NJ, Ghana, North Region, Cote d’Ivoire, Silicon, Africa, Accra, Cote, Hermankono, AFP

☆ Japan's 'Big Whale' submarines add another weapon to bottle up China's navy
▼ + stars: | 2024-02-10 | by ( Ben Brimelow | ) www.businessinsider.com time to read: +9 min

Named, JS Raigei (“Thunder Whale” in Japanese), the diesel-electric attack sub is the fourth boat of the Taigei-class , which translates to “big whale.”Its launch comes almost exactly one year after the launch of the third Taigei-class sub, JS Jingei (or “Swift Whale”). With a building time of about two years each, Japan has launched a new Taigei-class sub every year since 2020. China’s current sub fleet, numbering some 59 boats, includes approximately 10 improved Kilo-class , 12 Type 039-class , and 21 Type 039A-class diesel-electric attack subs. Japan is building a larger submarine fleet but it is still only about a third the size of China's. AdvertisementJapan has so far launched four Taigei-class submarines since 2018; JS Taigei, JS Hakugei, JS Jingei, and JS Raigei.

Persons: —, JS, Japan’s, ”, Li Organizations: Service, Kawasaki Heavy Industries, JS Raigei, Jingei, Self, Defense Force, AIP, JS Ōryū, JS Tōryū, JS Taigei, US Navy, Center for Strategic, International Studies, JS Hakugei, JS Jingei Locations: Japan, Kobe, Soviet Union, Russia, China, Beijing, Taiwan, East, South China, Miyako Strait, Philippines, Australia, South

☆ Stocks making the biggest moves midday: Palantir, Spotify, UPS, DocuSign and more
▼ + stars: | 2024-02-06 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

In its second quarter, the materials company posted earnings of 36 cents per share, greater than the 26 cents per share anticipated by analysts polled by StreetAccount. In its fourth quarter, the company posted adjusted earnings of 87 cents per share, compared to guidance of 85 cents to 87 cents in earnings per share. The company said it was committed to announcing a $3.5 billion share buyback for the first half of the year. The insurance service company reported adjusted earnings of $7.44 per share, topping the FactSet consensus estimate of $7.05 in earnings per share. Analysts polled by FactSet were expecting earnings of $1.08 per share on revenue of $1.24 billion.

Persons: Li, Willis Towers Watson, Gil Shwed, DocuSign, FactSet, Rambus, — CNBC's Michelle Fox, Alex Harring, Hakyung Kim, Yun Li, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: LSEG, StreetAccount, GE HealthCare Technologies, FactSet, Li Auto, Deutsche Bank, Spotify Technology, DuPont de Nemours, BP —, BP, Simon Property Group, Simon Property, United Parcel Service, UBS, Software Technologies, UBS — U.S, FMC Locations: StreetAccount ., FactSet ., Mississippi, Dalton , Georgia, Dalton, Swiss

☆ Stocks making the biggest moves premarket: Spotify, Eli Lilly, Palantir, UBS and more
▼ + stars: | 2024-02-06 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

The compan y posted adjusted earnings of $2.49 per share on revenue of $9.35 billion. Analysts anticipated $2.22 per share on revenue of $8.93 billion, according to LSEG. The company's revenue of $3.42 billion also beat analysts' forecasts of $3.40 billion. Chegg expects revenue between $173 million to $175 million, lighter than the $180.1 million consensus estimate, per StreetAccount. UPS -- Shares of the delivery company rose more than 1% after UBS upgraded the stock to buy from neutral.

Persons: Eli Lilly, Tesla, Li, amortization, Rambus, Macheel, Jesse Pound, Sarah Min, Michelle Fox Theobald Organizations: Spotify, LSEG, UBS —, JPMorgan, UBS, BP, Deutsche Bank, StreetAccount, UPS Locations: Swiss, StreetAccount .

☆ China auto stock to rebound by 45% amid market rout, Deutsche Bank says
▼ + stars: | 2024-02-06 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Investors have an attractive entry point for Li Auto after a recent sell-off, said Deutsche Bank. His new target implies shares can surge 46.4% over the next year from Monday's closing level. LI KWEB 3M mountain Li Auto vs. the ETF, 3-months This underperformance comes despite Li having a "best-in-class" management team, the analyst said. Yu noted he used a lower multiple for Li Auto given the broader de-rating across Chinese ADR shares and global electric vehicle makers. Li shares popped more than 6% in early trading Tuesday.

Persons: Li, Edison Yu, Yu, Yu's Organizations: Li Auto, Deutsche Bank, CSI China Internet, Li Locations: U.S, China, Shanghai

He also said that Flywire trading at a discount of about 25% is "unwarranted given the company's strong competitive position and organic revenue growth trajectory." "These risks along with a tough demand setting is likely to remove any support for the stock price." — Alex Harring 5:29 a.m.: BTIG moves to sidelines on McDonald's after earnings BTIG has a different taste in its mouth about McDonald's following earnings. The bank upgraded the delivery giant to buy from neutral and hiked its price target to $175 from $160. "We expect management to deliver a strong cost reduction program to support margin expansion and attractive EPS growth despite facing a backdrop of muted revenue growth," analyst Thomas Wadewitz wrote.

Persons: Flywire, Nate Svensson, That's, Svensson, — Alex Harring, Gross, Manav Gupta, Gupta, Jairam Nathan, Nathan, Tesla, Li, Edison Yu, Yu, Piper Sandler, Arvind Ramnani, Chegg, Ramnani, Alex Harring, Tyler Radke, Palantir, Radke, BTIG, Peter Saleh, Saleh, McDonald's, Thomas Wadewitz, Wadewitz, Fred Imbert Organizations: CNBC, Parcel Service, Deutsche Bank, UBS, Leadership, Li Auto, KraneShares CSI China Internet, Citi, Wall, Revenue, UPS Locations: Tuesday's premarket, Monday's, U.S, Israel

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