U.S. stocks closed down across the board
the Dow fell more than 400 points, and Apple fell more than 3%
▲ The Nasdaq fell 1.99% to close at 10919.59 points
September 11, Beijing time, US stocks closed lower today, led by the technology sector . As of the close, the Dow fell 405.89 points, or 1.45%, to close at 27534.58 points; the S&P 500 index fell 59.77 points, or 1.76%, to close at 3,339.19 points; the Nasdaq fell 221.97 points, or 1.99%, to close at 10919.59 point.
Major US technology giants fell across the board:
Major U.S. tech giants
Most major Chinese technology stocks fell:
Major Chinese technology stocks
China Concept Stock Price
Most of the other Chinese concept stocks fell, among which companies that rose include:
Rising other Chinese concept stocks
Companies that were on par with the previous trading day include:
Other Chinese concept stocks that were unchanged from the previous trading day
Companies that fell include:
Other Chinese concept stocks that fell
Litchi’s share price is more than 66% lower than the issue price and is investigated by American law firms
Johnson Fistel, a shareholder protection law firm, is investigating lychee to find out whether it violated securities laws and regulations. Litchi’s IPO (initial public offering) on January 17, 2020, sold approximately 11 million shares at an issue price of US$11 and raised nearly US$45.1 million. But since the IPO, Litchi’s stock price has basically fallen all the way. In today’s regular trading, Litchi’s stock price fell by US$0.13, or 3.39%, to close at US$3.7, 66.4% lower than the issue price of US$11. Johnson Fistel hopes to find out through the investigation whether the documents submitted by Litchi to the US Securities and Exchange Commission at the time of IPO and the subsequent announcements to investors contain false information or fail to disclose information related to the company’s business and operations that should be disclosed. Major issues. In its first financial report since its listing on May 22, Litchi stated that it achieved net revenue of 370 million yuan in the first quarter, an increase of 42% year-on-year, but the net loss of 48.2 million yuan increased by 323% year-on-year; the release on August 13 The second quarter financial report showed that the net revenue of litchi was 350.9 million yuan, an increase of 56% year-on-year, and the net loss was 22 million yuan, which was about 50% narrower than the 44.2 million yuan in the same period last year.
US/Foreign Technology Stocks
The vast majority of other foreign technology stocks fell, and the companies that rose included:
Rising other foreign technology stocks
Companies that fell include:
Other foreign technology stocks that fell
Tesla rose 12.5% in two days, still more than 25% below the highest price
In pre-market trading today, Tesla shares rose 4.9%. In regular transactions, Tesla’s stock price rose by US$5.06, or 1.38%, to close at US$371.34, which was a high of US$398.99 during the session. As S&P Dow Jones Indices unexpectedly failed to include Tesla in the S&P 500 index last weekend, it poured cold water on investors who believed that Tesla would become a constituent of the S&P 500 index. On Tuesday, its stock price plummeted 21 %. Yesterday and today, Tesla’s stock price rose by 12.5% from Tuesday’s closing price, far exceeding the Nasdaq during the same period, but it was still about 25.5% lower than the all-time high price of $498.32 on August 31. Even after the recent plunge, Tesla’s stock price has increased by more than 300% this year, with a market value of approximately US$346 billion, making it one of the highest market capitalization US listed companies. Tesla investors and analysts are currently focusing their attention on the company’s “Battery Day” meeting on September 22, when the company’s CEO Elon Musk will announce advances in battery technology. At a similar meeting last year, Musk said that the company’s driverless taxis will be launched in some US markets in 2020. Tesla’s current market-to-sales ratio is about 17 times. A few months ago, this figure was still about 8 times. Last year it was only 3 times.
Cloud computing business drives Oracle’s performance to exceed expectations, rising more than 5% after the market
As the demand for remote office services from companies during the epidemic stimulated demand for cloud computing services, Oracle’s first-quarter revenue and profit both exceeded analyst expectations. Oracle revenue increased by 1.6% to 9.37 billion US dollars, higher than analysts’ expectations of 9.19 billion US dollars. In the fourth quarter of last fiscal year, Oracle’s revenue fell 6% year-on-year. Chairman Larry Ellison (Larry Ellison) and CEO Safra Catz (Safra Catz) have been working hard to change Oracle’s business model to make it more suitable for the new computing era. Their latest attempt is to acquire the US assets of TikTok, an overseas version of Douyin. Although the businesses of the two companies seem to be somewhat unrelated, this transaction can bring another key customer for Oracle’s cloud computing services. TikTok’s massive consumer data can help promote the development of its advertising business. Excluding some expenses, Oracle’s earnings per share were 93 cents, higher than analysts’ expectations of 86 cents. In today’s regular trading, Oracle’s stock price rose by 0.38 US dollars, or 0.67%, to close at 57.33 US dollars, which was a high of 58.18 US dollars during the session. In after-hours trading, Oracle’s stock price rose 5.11%. Cloud services and license support revenue increased 2% to $6.95 billion. Sales of cloud licenses and software licenses increased by 9% to US$886 million, marking more new software deals for Oracle.