On May 18, Beijing time, US stocks closed higher after investors accepted Federal Reserve Chairman Jerome Powell’s remarks that he will continue to raise interest rates until inflation is contained. As of the close, the Dow rose 431.17 points, or 1.34%, to close at 32,654.59 points; the S&P 500 rose 80.84 points, or 2.02%, to close at 4,088.85 points; the Nasdaq rose 321.73 points, or 2.76%, to close at 11,984.52 point.
The major technology stocks in the Chinese concept stocks rose across the board. Weilai rose by more than 14%, iQiyi rose by nearly 8%, Pinduoduo and Alibaba rose by more than 6%, and JD.com rose by more than 4%. It is reported that Bridgewater, the world’s number one hedge fund, has increased its holdings in Weilai by 73% and Lili Auto by 115%.
Major U.S. tech giants rose across the board:
▲ Major US technology giants
Major Chinese tech stocks all rose:
▲ China’s major technology stocks
China concept stock price
Other Chinese concept stocks that rose include:
▲ Other Chinese concept stocks that have risen
Companies that fell include:
▲ Other Chinese stocks that fell
▲ JD.com’s Q1 revenue and profit both exceeded Wall Street expectations
After releasing its first-quarter results last night that exceeded analysts’ expectations, JD.com’s stock price rose by $56.4 in regular trading, an increase of about 9.5%. Investors were pleased that JD.com’s revenue and profit beat Wall Street expectations. JD.com posted an adjusted EPS of $0.4 in the first quarter, well above analysts’ expectations of $0.24. JD.com’s revenue rose 18% from a year earlier to $37.8 billion, beating analysts’ forecast of $34.8 billion.
▲ JD’s Q1 revenue growth hit a new low since its listing
While JD.com’s first-quarter results were quite strong, investors may also note that JD.com’s first-quarter revenue growth was the slowest since its listing. Investors should pay close attention to JD.com’s results in the coming quarters. At the end of the first quarter, JD.com had 580.5 million active users, up 16% year-on-year.
▲ Huya’s Q1 net loss of 3.3 million yuan and a profit of 186 million yuan in the same period last year
Huya released its financial report for the first quarter of 2022 last night, with a total revenue of 2.46 billion yuan and a non-GAAP net profit of 46.6 million yuan. The net loss attributable to Huya was 3.3 million yuan, compared with a net profit of 185.5 million yuan in the same period last year. During the same period, the average monthly active users of Huya Live’s mobile terminal reached 81.9 million, an increase of 8.5% year-on-year; Huya Live’s paying users were 5.9 million, which was basically unchanged from the same period last year.
▲ The average monthly active users of Huya Live’s mobile terminal increased by 8.5% year-on-year
As of March 31, 2022, the value of cash, cash equivalents, short-term deposits and short-term investments held by Huya was 10,473.4 million yuan, down from 10,959.1 million yuan in the same period of the previous year, mainly due to the increase in investment and prepayment to content providers . In regular trading, Huya’s stock price once touched a high of 4.12 US dollars, an increase of 5.37%.
US/Foreign tech stocks
Other foreign tech stocks that rose included:
▲ Other foreign tech stocks that rose
Companies that fell include:
▲ Other foreign tech stocks fell
▲ Twitter has three more executives to leave
CNBC confirmed on Tuesday that three more Twitter executives, Ilya Brown, vice president of product management, and Catri, vice president of services, are leaving on the eve of Elon Musk’s acquisition deal. Katrina Lane and head of data science Max Schmeiser. It follows the departure of Kayvon Beykpour, head of consumer affairs, and Bruce Falck, head of revenue-generating products. Twitter also announced it was suspending most hiring and cutting non-labor costs.
▲ Musk said that after the completion of the acquisition, Twitter executives and directors will be reduced
A Twitter spokesman said the reason for the departure of the three people was to seek new opportunities. Twitter on April 25 accepted Musk’s $54.2 per share acquisition deal. Musk said he would cut salaries of Twitter executives and directors and reduce costs in other areas.
▲ The number of confirmed cases of the new crown has increased again, and Apple has postponed the plan to require employees to go to work 3 days a week
Apple has delayed a plan to require employees to return to the office three days a week, citing a resurgence of new coronavirus cases, marking the latest setback in its efforts to bring the company back to normal. Apple has notified employees of the incident, and it had planned to implement the plan from May 23. However, Apple still wants employees to return to the office two days a week. Apple did not disclose a new timing for implementing the plan. Apple employees have been critical of the company’s request to return to the office, saying it affects productivity.
▲ Apple requires about 100 US store employees to wear masks
Apple has also notified employees that they are required to wear masks in public places, at least in Silicon Valley offices. In addition, retail store employees were also notified Wednesday that employees at about 100 U.S. stores must wear masks. Apple stopped requiring retail store employees to wear masks in March.
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