Pre-market trading in US stocks | Tesla tightens recruitment, Baidu Cloud achieves profitability, Buffett increases holdings in Apple.
Sea fell nearly 8%, Home Depot fell more than 2%. Huya rose more than 4%, Pinduoduo, Tencent Music, and Xiaopeng fell 1.5%, Alibaba fell nearly 1%, Baidu rose more than 1%, BEKE-W, CLOUD MUSIC, and NIO-SW fell more than 1%, Bilibili fell nearly 3%, Futu Holdings fell more than 8%.
US Stock News
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Sea's Q1 revenue was $3 billion, net profit was $87 million, and the market expected a profit of $237 million. The Q1 e-commerce business revenue was $2.1 billion, a year-on-year increase of 36.3%; the digital entertainment business revenue was $539.7 million, while the previous quarter was $948.9 million; the digital financial services revenue was $412.8 million, a year-on-year increase of 75.0%.
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Huya's Q1 revenue was RMB 1.949 billion, and net profit was RMB 44.8 million.
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Home Depot's Q1 revenue was $37.257 billion, and net profit was $3.873 billion.
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Tencent Music's Q1 total revenue was RMB 7 billion, a year-on-year increase of 5.4%; among them, online music subscription revenue was RMB 2.6 billion, a year-on-year increase of 30.4%; the number of online music paying users reached 94.4 million, a year-on-year increase of 17.7%, and a net increase of 5.9 million from the previous quarter.
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Baidu's Q1 total revenue was RMB 31.1 billion, the market expected RMB 29.97 billion, a year-on-year increase of 10%. Q1 net profit was RMB 5.7 billion, the market expected RMB 3.066 billion, a year-on-year increase of 48%.
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Market news: Tesla's improved Model 3 is about to enter the final trial production stage in Shanghai.
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HHLR Advisors, a subsidiary of Hillhouse Capital, increased its holdings of 9 Chinese concept stocks such as Alibaba and Huazhu, and newly bought AMD, Baidu, and Ideal Auto, among other related targets. Among HHLR's top ten heavy positions, Chinese concept stocks accounted for seven seats. In the first quarter, HHLR also increased its holdings of Microsoft, Amazon, and Alibaba.
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Berkshire Hathaway increased its holdings of Apple by 20.4 million shares in Q1 and at the same time cleared its previously heavily reduced holdings of TSMC.
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The Information reported that according to a Tesla memo seen, Musk announced to employees in an email on Monday that Tesla cannot hire new people without his personal approval.
Pre-market Movement
In pre-market trading, Dow Jones futures, Nasdaq futures, and S&P 500 futures fell by 0.2%, 0.05%, and 0.1%, respectively.
Sea fell nearly 8%,
Huya rose more than 4%, Pinduoduo, Tencent Music, and Xiaopeng fell 1.5%, Alibaba fell nearly 1%, Baidu rose more than 1%, Beike, NetEase, and NIO fell more than 1%, Bilibili fell nearly 3%, and Futu Holdings fell more than 8%.
Institutional Views
- JPMorgan strategist: If the debt ceiling deadlock continues, US stocks may be sold off
JPMorgan strategist Marko Kolanovic warned that he reiterated his view of underweighting US stocks because the stock market pricing continues to reflect the scenario of an economic soft landing and is out of touch with the bond market. The lack of progress in negotiations on the US debt ceiling is another reason to avoid US stocks, because "if the debt ceiling problem persists until the last minute, there may be a sell-off". 2. Guo Mingchi: iPhone 16 Pro series equipped with periscope lens, Apple's second-generation VR/AR will be divided into high-end and low-end
Guo Mingchi pointed out that in the iPhone 16 series models to be launched next year, the periscope lens module will be handed over to the Pro models, and the screen of the iPhone 16 Pro will continue to increase. In addition, Apple's second-generation AR/VR head-mounted equipment will be mass-produced in 2025 and will be divided into high-end and low-end versions, with shipments expected to be about 10 times that of the first generation.