LB Premarket | Deutsche Bank raised Alibaba's target price; semiconductor stocks fell sharply! Micron Technology lowered guidance

News

1. Emerson's second-quarter revenue was US $5.005 billion and net profit was US $921 million. It is expected that sales in fiscal 2022 will increase by 7% -8% year over year, and earnings per share will be US $5.25-5.35.

2. Micron Technology: Announced that it will invest $40 billion to manufacture cutting-edge memory in the United States by the end of the current decade. Revenues for the fourth quarter of fiscal 2022 are expected to be at or below the low end of the revenue guidance range provided on the June 30 conference call. Micron had expected adjusted revenue of $6.8 billion to $7.6 billion in the fourth quarter, compared with market expectations of $7.26 billion. Quarter 1 free cash flow is expected to be negative in fiscal 2023. Recent customer inventory adjustments widened.

3. According to the data disclosed by the Hong Kong Stock Exchange, a total of 630 Hong Kong stocks were short-sold on August 9, with a total short-selling amount of 7.947 billion Hong Kong dollars. Among them, there are 18 stocks with a short-selling amount exceeding 100 million Hong Kong dollars, and Alibaba-SW, Meituan-W, and Tencent Holdings are among the top three short-selling amounts, which are 451 million Hong Kong dollars, 423 million Hong Kong dollars, and 351 million Hong Kong dollars respectively.

4. [NXP and other IDM manufacturers say that car factory customers have accelerated replenishment] The demand for automotive chips is booming, including IDM manufacturers such as NXP Semiconductors, who have pointed out that car factory customers have accelerated replenishment, and IC designers also believe that automotive chips Demand and the current overall market conditions can be said to be very different.

Movement

U.S. stocks premarket, Dow futures fell 0.19%, Nasdaq futures fell 0.67%, S & P 500 futures fell 0.37%.

Semiconductor stocks fell, Micron Technology fell nearly 5%, Nvidia fell 3%, AMD, STMicroelectronics fell 2%, Qualcomm fell 1.6%.

The charging pile stock Blink Charging fell 7%, up 4.47% yesterday.

Upstart tumbled 13%, with second-quarter revenue missing expectations.

Novavax Pharma fell 32% after a sharp decline in second-quarter results. Novavax lowered its full-year guidance, weighed down by sales of COVID-19 vaccine products.

Tesla, Apple, Microsoft, Google, Netflix, Amazon, and Meta all fell between 0.5% and 1%.

JD.com fell more than 1%, while Baidu and Pinduoduo fell 0.5%.

Magic Empire Global fell more than 16% and rose more than 20% yesterday.

GlobalFoundries rose more than 5% as Qualcomm and GFS signed a long-term manufacturing agreement to extend their existing chip agreements for 5G transceivers, Wi-Fi, automotive and IoT connectivity.