1) Tencent & Other Collapsing Chinese Tech Stocks
Falls from recent highs in 2018 as of August 15, 2018:
- Tencent -27% HK: 0700
- Alibaba Group -21% NYSE: BABA
- Baidu -23% NASDAQ: BIDU
- Xiaomi -23% HK: 1810
- HUYA -45% NYSE: HUYA
CNBC Life video published Aug 16, 2018: Gavin Parry, managing director at Parry Global Group (parry-group.com), discusses Tencent's latest surprising earnings report.
- China’s central bank says e-commerce firms face profit squeeze and greater competition--chinaeconomicsreview.com.
- Alibaba $BABA: "In the best-case scenario, Alibaba is the goofiest, most convoluted, opaque, mismanaged accounting mess and business structure in history"--deep-throat-ipo.blogspot.com. See the Form 20-F.
2) Tesla $TSLA Turbulence
Tesla shares are getting slammed after Elon Musk's off-kilter interview with the NYT | CNBC.com 17 Aug 2018.
Elon Musk's 2018: Tesla, Flamethrowers and Lots of Tweets
Wall Street Journal (wsj.com) video above published Aug 15, 2018: Elon Musk's market-moving tweet about possibly taking Tesla private is just the latest erratic move in a tumultuous year for the CEO. See also: Tesla Is Said to Be Subpoenaed by S.E.C. Over Elon Musk Tweet | NYTimes.com 15 Aug 2018.
The Week: Dow, S&P 500 end the day and week higher buttressed by optimism over China-U.S. trade talks | MarketWatch.com.
Week ending 17 Aug 2018: NASDAQ Composite -0.3% | S&P 500 Index +0.6% | DJIA +1.4%
Wall Street's Charging Bull
Investing Notes: A Squeeze Is On
a. Grand Collapse in Turkey; to avoid the same fate, Argentina hikes rate to 45% | WolfStreet.com.
b. Rise of US Dollar Haunts Emerging Market Debt | WolfStreet.com 14 Aug 2018.
c. Tech still all the rage while bears prowl emerging markets: BAML survey | reuters.com.
d. Chinese banks’ bad loans grow at record pace in second quarter | chinaeconomicreview.com.
4) ICYMI Tech News:
FT.com video above published 16 Aug 2018: After Facebook's share price $FB plunge, what's next for the social network? The FT's Hannah Kuchler posts from shareholder, advertiser and user perspectives.
- Nvidia $NVDA Q2 FY19 Earnings, LIVE Webcast August 16, 5:30pm EDT: Nvidia says cryptocurrency-specific Q2 revenue was $18M, below its $100M estimate, down from $289M in Q1, projects no cryptocurrency contributions going forward.
- AI & Fintech: how artificial intelligence is transforming financial services--weforum.org.
- Walmart $WMT: World’s biggest retailer’s growth fueled by grocery business, boosts outlook for comparable sales, adjusted profit--Walmart Bounces Back With Best Sales in More Than a Decade | Bloomberg.com. See also: Walmart’s Ragtag Alliance Against Amazon--a plucky band of tech companies, icluding Google, Microsoft and JD.com--over a shared fear of Jeff Bezos--bloomberg.com.
-- John Poole, Editor, Domain Mondo
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