LB Morning Call | Tesla's Annual Meeting：Stock-Split Proposal Tops

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Asia Pacific

Overnight, the three major U.S. stock indexes closed higher across the board, with the Dow up 1.29% at 32,812.5 points, the S & P 500 up 1.56% at 4,155.17 points, and the Nasdaq up 2.59% at 12,668.16 points.

Disney rose 4.08% and Apple rose 3.82%, leading the Dow. Big tech stocks rose across the board, with Amazon up 4%, Netflix up 2.4%, Google up 2.56%, Facebook up 5.37% and Microsoft up 2.78%. Tesla rose 2.27%.

Anti-epidemic concept stocks performed strongly, with Moderna up 15.97%, Gilead Sciences up 4.59%, Novavax Pharmaceuticals up 6.35%, BioNTech up 7.52%, and AstraZeneca up 0.09%.

Most of the popular Chinese concept stocks rose, Golden Sun Education rose 31.38%, Leju rose 25.75%, Shang Multiplier fell 30.89%, and the intraday drop of 42% triggered a circuit breaker. JD.com rose 2.3%, NetEase fell slightly, Baidu rose 1.8%, and Pinduoduo rose 1.4%. Alibaba rose 3.3%, Tencent ADR rose 3.7%, and Station B rose 2.5%.

New Shares Listed

Mobiv Acquisition Corp may be listed in the US today.

Singapore News

1. China and Singapore held the fourth round of chief negotiators' meeting for the follow-up negotiations on the upgrade of the free trade agreement. The two sides conducted in-depth discussions on relevant chapter texts, negative lists for trade in services and investment, and made positive progress.

2. The recovery of the construction industry, the rise in the price of ready-mixed concrete and the increase in the profit contribution of related companies pushed Pan-United's net profit in the first half of the year over year to the end of June by 94% to 13.5 million yuan, and revenue increased by 22%.% to 300 million 38 million yuan. The board of directors recommended an interim dividend of 0.5 cents per share on August 26, the same as the same period last year.

3. SRS Auto Holdings, which made a takeover offer to Allied Technologies, announced that it would increase the purchase price by 25% to 1.1 cents from 0.88 cents in cash per share, saying that this would be the final offer price and under no circumstances. No further price increases are planned.

4. Mapletree PACT announced that veteran banker Qian Naiji has become the non-executive chairperson of MPACT Management Ltd. Qian Naiji is the former group president of OCBC Bank and currently serves as a director of several listed companies, including Jardine C & C and the Singapore Exchange (SGX).

US Stock News

1. According to people familiar with the matter, Tesla is developing a new version of the solar roof (Solar Roof v3.5), which is currently being tested in employees' homes. If the test goes well, it is expected to launch a new version of the solar roof when installations restart at the end of this year.

2. Meta Platforms has asked several banks to study market demand for its potential corporate bond sale. This will be the tech giant's first corporate bond offering.

3. South Korean semiconductor manufacturer SK Hynix said that the company has successfully developed the world's first 238-layer 512Gb TLC (Triple Level Cell) 4D flash memory chip sample with the highest number of layers in the industry, which will be mass-produced in the first half of next year.

4. Uber sold a 7.8% stake in India's Zomato for $392 million, sources said.

5. Unity Software, a developer of game design software, is preparing to spin off its Chinese unit in an effort to expand its business in the world's largest game market, according to people familiar with the matter. Unity is looking for strategic investors to cooperate with the business, which is valued at more than $ 1 billion.

6. Moderna's second-quarter revenue was $4.749 billion, up 9% year over year; net profit was $2.197 billion, down 21% year over year; diluted earnings per share were $5.24, compared with $6.46 a year earlier. The company announced a $3 billion repurchase program.

7. Nintendo's operating profit fell 15% to 101.6 billion yen in the fiscal first quarter, and revenue was 307.5 billion yen, both lower than expected. 3.43 million Switch consoles were sold in the quarter, down 22% year over year. The company still forecasts 21 million SWITCH hardware sales for the full year.

8. EBAY second-quarter adjusted earnings per share of $0.99, expected to be $0.9. Revenue is $2.422 billion, expected to be $2.368 billion. Third-quarter adjusted earnings per share are expected to be $0.89 to $0.95; full-year adjusted earnings per share are expected to be $3.95 to $4.10. Third-quarter revenue is expected to 2.29 billion to $2.37 billion; full-year revenue is expected to 9.6 billion to $9.9 billion. EBAY returned more than $1.4 billion to shareholders in the second quarter, including about $1.3 billion in share repurchases and a $121 million cash dividend. EBAY shares rose more than 4% after hours.

9. Maersk announced a strong second quarterly report. Revenue increased to a new high of $21.65 billion, up 52.14% year over year; EBITDA increased to $10.327 billion, up 103.93% year over year; EBIT was $8.988 billion, up to 120.08% year over year; net profit was $8.621 billion, up 130.14% year over year. In the first half of the year, the company's net profit was 15.4 billion US dollars, a surge of 138.7% year over year.

10. Tesla will hold its annual shareholder meeting on August 4 local time, and investors will vote on the "one-to-three" stock split plan.

Macroeconomy

1. Federal Reserve Bullard said he favored a strategy of raising interest rates sharply "up front" and reiterated his hope for interest rates to reach 3.75% to 4% by the end of the year to curb the hottest inflation in four decades. The U.S. economy is not yet in recession because job growth remains strong.

2. Maersk Line, the world's largest container carrier and transportation company, issued an warning that due to weakened consumer confidence and supply chain congestion, global demand for shipping containers will slow down this year, and inventories in ports and warehouses will continue to increase.

Reminders

19:00, the Bank of England interest rate decision;=

20:30, the number of initial jobless claims in the week from July 30 in the United States;