The three major U.S. stock indexes opened higher collectively, with the Dow Jones rising 0.68%. Safty rose more than 11%, revenue in the first quarter exceeded expectations, and raised annual profit expectations. Semiconductor company Anba fell by more than 5%, and its second-quarter performance guidance was lower than market expectations. Weibo rose more than 2%, with users increasing and revenue higher than market expectations in the first quarter.
[Financial News]
Biden will hold a virtual roundtable with infant formula manufacturers
US President Biden will hold a virtual roundtable with infant formula manufacturers to learn about the latest situation of the industry's increased supply to solve the national shortage problem.
[Company News]
Pfizer will withdraw from its joint venture with GlaxoSmithKline
GlaxoSmithKline said it plans to withdraw from its 32% stake in Haleon after divesting Haleon into an independent listed company in July this year. Haleon is a consumer health joint venture established by Pfizer and British pharmaceutical company GSK.
Amazon says the U.S. antitrust bill is unfair to it
Amazon slams a bill in the U.S. Congress that prohibits tech giants from providing priority services to their businesses on its website, saying the bill unfairly picks Amazon out alone without allowing competitors to accept similar rules.
Daquan New Energy announced a $120 million stock repurchase plan
Daquan New Energy’s board of directors approved a $120 million stock repurchase plan, valid for one year, from June 1, 2022 to May 31, 2023.
According to the company, the repurchase program does not require the company to acquire any specific amount of common stock or American depositary shares at any given time.
Tata Auto's car sales in May increased by 186% year-on-year
Tata Auto: Global sales in May were 76,210 units, an increase of 186% year-on-year.
Due to the deterioration of the macroeconomic situation, S&P Global suspends the issuance of 2022 performance guidance
S&P Global: Due to the abnormally weak market environment of the rating business, the issuance of 2022 financial guidance will be suspended; it is expected to be given again in the second quarter of 2022 financial report.
Weibo's net revenue in the first quarter was US$485 million, estimated to be US$474 million,
Weibo's net revenue in the first quarter was US$484.6 million, estimated to be US$472.2 million; adjusted earnings per share in the first quarter were US$0.56, estimated to be US$0.46.
Xiaopeng Motors delivered 10,125 units in May, a year-on-year increase of 78%
Xiaopeng Motors delivered 10,125 units in May, a year-on-year increase of 78%. As of May 31, 2022, Xiaopeng Motors' annual delivery volume reached 53,688 units, a year-on-year increase of 122%.
Ideal Auto: 11,496 Ideal ONEs were delivered in May, an increase of 165.9% year-on-year
Ideal Auto delivered 11,496 Ideal ONEs in May, an increase of 165.9% year-on-year. Since its delivery, the cumulative delivery volume of Ideal ONE has reached 171,467 vehicles.
NIO delivered 7,024 cars in May, an increase of 4.6% year-on-year
NIO delivered 7,024 cars in May. Since 2022, NIO has delivered a total of 37,866 cars, an increase of 11.8% year-on-year.
Apple's new IOS16 features will be officially released on June 6
Apple is expected to release system features updates on iOS 16 and iPadOS 16 in the WWDC 2022 developer keynote speech on June 6.
It is reported that changes to iPhone include updates to notifications, SMS and health application functions. SMS is expected to get new audio features, while the health app is expected to be used synchronously on iPhone and Apple Watch.
Apple will add new gadgets to the lock screen page, supporting iPhone 14 and iPhone 14 Pro screen-off display, and will also add multitasking options to the new iPad, allowing more applications to run in different windows like a Macbook.
is expected to officially release a new iPhone and a new beta system for users to try this fall.
It is understood that the company may also release a new MacBook Air laptop this year.
Huya Q1 revenue fell by 3% year-on-year, and net loss narrowed year-on-year
After the US stock market on June 1, Huya announced its first quarter financial results for 2022. According to the financial report, the total net revenue in Q1 was US$624 million, compared with US$643 million in the same period last year, a year-on-year decrease of 3%; the net loss was US$32.86 million, compared with US$53.519 million in the same period last year.The diluted loss per ADS was USD 0.41, compared with the loss per ADS a year ago.
[Analyst Rating]
Ambarella: Jefferies lowered its target price from $136 to $122, and supply disruptions will drag down the company's second-quarter results.
Eli Lilly : JPMorgan raised its target price from $340 to $355, reflecting the company's optimistic outlook for obesity and diabetes drugs.
HP : Cowen raises its target price from $34 to $38 after the company announced second-quarter results and earnings per share higher than expected.
Photronics: D.A Davidson raised its target price from $26 to $30 after the company's second-quarter results exceeded expectations and provided guidance in advance for the third quarter.
Shift : Piper Sandler lowered its target price from $330 to $250, citing foreign exchange headwinds and tightening of business cycles.
