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On August 19th, it was learned from Xiaomi that their upcoming next-generation humanoid robot will be approximately 1.7 meters tall, weigh 66 kilograms, and have 66 degrees of freedom, half of which are concentrated in its hands. Currently, this robot is a prototype and will be exhibited in Europe after its initial domestic debut. In 2022, Xiaomi released its full-size humanoid robot "Tieda," nearly two months earlier than the Tesla Optimus prototype. Tieda was 1.77 meters tall, weighed 52 kilograms, and had 21 degrees of freedom. Since then, Xiaomi has released little information regarding its robotics products.Iranian Parliament Speaker Ghalibaf: Everyone only needs to look at the regional situation to see who is winning.On August 19th, Goldman Sachs issued a report expecting the Hong Kong Stock Exchange (00388.HK) share price to react positively to its second-quarter results. Second-quarter net profit was HK$5.4 billion, up 21% year-on-year and 4% quarter-on-quarter, exceeding the banks and market expectations by 11% and 15% respectively. Revenue (excluding investment income) was 5% higher than the banks forecast, and investment income also exceeded the banks expectations, driven by fair value gains on investments in non-listed companies. The rating is "Buy," with a target price of HK$540.On August 19th, UBS released a research report stating that Baidus (09888.HK) second-quarter performance was weak, with AI cloud infrastructure revenue growing by 50% year-on-year, a slowdown from the 79% growth rate in the first quarter. This slowdown is believed to be due to the timing of revenue recognition. The report emphasizes that the computing demand for AI training and inference remains healthy, and predicts that growth will accelerate again to over 60% in the second half of the year, driven by increased spending from existing customers and an expanding customer base. The bank slightly raised its second-half AI cloud infrastructure revenue growth forecast to over 60%, while lowering its second-half core operating profit forecast by 6% to reflect increased R&D spending. The full-year core revenue forecast for Baidu remains largely unchanged, while the full-year non-GAAP net profit forecast is lowered by 27%. The target price is lowered from HK$165 to HK$155, while maintaining a "Buy" rating.The governor of Bashkortostan, Russia, said: "There was a fire at the oil refinery, but the damage was minor. We will resume production within a few days."

S&P 500 Rebounds From Session Lows As Energy Stocks Rally

Jimmy Khan

Nov 04, 2022 16:57

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As major tech companies hit new lows, the NASDAQ Composite seeks to settle below the 10,700 mark.

Big Tech Stocks Continue to Be Under Stress

As traders responded to the ISM Non-Manufacturing PMI data, which fell short of analyst forecasts, the S&P 500 recovered from session lows.


Energy stocks took the lead in the recovery from session lows today due to robust support. In today's trading session, ConocoPhillips, APA Corporation, and Marathon Oil all saw gains of 6–7%.


ConocoPhillips had significant price appreciation after exceeding analyst expectations, boosting the dividend, and expanding its share repurchase program by $20 billion.


Despite missing analyst profit expectations, Etsy increased by 14%. The firm gave a positive prognosis for the last quarter of this year, which caused the stock to rise.


Booking increased by 5% with the release of the $6.05 billion in sales and the higher-than-expected adjusted profits of $53.03 per share.


Fidelity National Information Services, which was down 25% following the publication of its quarterly report, was under a lot of pressure due to weak guidance.


Leading tech companies including Apple, Alphabet, and Amazon had declines of 2% to 3%. Meta Platforms, meanwhile, tested fresh lows at $88.50.


If the mega cap companies continue to experience pressure, the whole market will not be able to develop a sustained upward trend. Traders are nonetheless concerned that rising interest rates may harm the bottom lines of powerful corporations.


While the IT industry leaders seemed unstoppable during the coronavirus crisis, their stocks were under a lot of pressure from rising interest rates, a stronger currency, and a slowing global economy. Traders should continue to watch the large tech stocks' movements for hints regarding the S&P 500's future course.