Highlights for the Fiscal Year Ended June 30, 2022 11.5% Revenue Increase YoY to $27.1 Million 73% Increase YoY in Sales of Intelligent Pet Products 100% Increase YoY in Income Per Basic and Diluted Share 241% Increase YoY in Balance of Cash and Short-Term Investments PLANO, Texas , Oct. 1, 2022 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced its audited financial results for the fiscal year ended June 30 2022. Silong Chen , Chairman and Chief Executive Officer of Dogness, commented, "We continue to benefit from our priority focus of resources on the production and promotion of sales of our higher margin intelligent pet products. With both our existing models and the newly launched models of our smart products, we delivered a 73% increase in sales of our intelligent pet products in the fiscal year ended June 30, 2022 , compared to the year ago period.
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Stocks Slide, Ugly Mood Returns As Traders Ask ''Did Anything Change'' The brief post-BOE euphoria has worn off, and risk-off sentiment returned to markets as concern about inflation and the global economy overshadowed the Bank of England’s desperate attempt to restore calm by restarting QE, exacerbated by more hawkish central bank talk and defiance by British PM Liz Truss''s tax plan (which has been slammed from the IMF all the way to the White House ). Treasuries resumed their slide with UK gilts, while US equity futures fell as European stocks extended a selloff that’s caused valuations to drop to their lowest since 2012. As of 730am, emini S&P futures slid 0.7% to 3704, recovering from losses as big as 1.5% earlier. The dollar rose and Treasuries resumed their slump as investors focused on expectations the Federal Reserve will continue to deliver aggressive interest-rate hikes. The pound snapped a two-day gain and UK gilt yields rose as Prime Minister Liz Truss defended a giant package of unfunded tax cuts that sent markets into turmoil. “Other than the dollar, there are not many assets that are trading constructively, ” said Julia Raiskin, Asia-Pacific head of markets for Citigroup Inc. “ The markets are very pessimistic.
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Chinese tech stocks suffered a meltdown since many hit all-time highs in early 2021, with no significant improvement in 2022 compelling Goldman Sachs to at least take a new look at this sector, Barron''s reports . Alibaba Group Holding Limited (NYSE: BABA ) lost almost half its market value last year alone as China and U.S.''s regulatory crackdown weighed on the sector. JD.com, Inc (NASDAQ: JD ), Baidu, Inc (NASDAQ: BIDU ), and NetEase, Inc (NASDAQ: NTES ) were no better either. The 2022 equity selloff amid red-hot inflation, surging bond yields, and recession concerns have only compounded investors'' pain points. Goldman expects market volatility to continue and isn''t ruling out a recession within the following year. "We still think U.S. equities are the best place to … Full story available on Benzinga.com
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day''s top analyst upgrades and downgrades included Adobe, Agnico Eagle Mines, Amgen, Barrick Gold, Comstock Resources, Enphase Energy, Huntsman, JD.com, Kinder Morgan, Lucid, Newmont, Okta, Starbucks, Union Pacific and Vale.
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Alibaba''s office in Beijing. Costfoto/Barcroft Media via Getty Images Alibaba, JD.com and YUM China are among US-listed Chinese companies being targeted by regulators. The…
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HONG KONG: US regulators have selected e-commerce majors Alibaba Group Holding Ltd and JD.com Inc among other US-listed Chinese companies for audit inspection starting next month, people with knowledge of the matter said. The selection follows a landmark audit deal between Beijing and Washington on Friday allowing US regulators to vet accounting firms in mainland China and Hong Kong, potentially ending a long-running dispute that threatened to boot more than 200 Chinese companies from US stock exchanges. The tech duo along with Yum China Holdings Inc - owner of KFC, Taco Bell and Pizza Hut restaurants in China - have been notified that they are among the first batch of Chinese companies whose audits will be inspected in Hong Kong by US audit watchdog, the Public Company Accounting Oversight Board (PCAOB), the people told Reuters, declining to be identified due to confidentiality constraints. The respective accounting firms of Alibaba, JD.com and Yum China - PwC, Deloitte and KPMG - have also been notified of the inspection, the people added.
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Chinese tech stocks are rising as the threat of delisting recedes, amid strong earnings from Baidu (NASDAQ: BIDU ) and Pinduoduo (NASDAQ: PDD ). A tentative deal on U.S. regulators gaining access to the audits of Chinese companies listed in the U.S. was the main catalyst. The agreement means Chinese stocks may now be valued more on results, rather than just political tensions. If China is recovering from its Covid-19 lockdowns many shares will be getting a second look. The government of President Xi Jinping is also trying to goose growth ahead of his October re-election. Chinese Stocks: Not All Junk The shopping site Pinduoduo was the star among Chinese Stocks today. It delivered earnings of $1.33 billion on revenue of $4.7 billion for its most recent quarter. Both figures handily beat analyst estimates. Bank of America raised its price target on PDD to $89. It opened on Aug. 30 at $68. The shares are now up 20% on the year. Baidu had a net income of $543 million, $1.49/share under GAAP, on revenue of $4.4 billion.
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The Chinese government has been implementing supportive economic and policy measures.
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Ray Dalio may not get as much attention as some other hedge fund managers like Cathie Wood, Jim Simons and Steven Cohen. Yet, he’s earned his place among the world’s top fund managers . Dalio’s Bridgewater Associates manages more than $150 billion in capital. So, investors should be paying attention to the stocks that Ray Dalio is betting on now. Dalio started Bridgewater in 1975. Over the decades, he turned it into a financial juggernaut, returning $52.2 billion in gains to its investors, the most of any hedge fund in history, according to LCH Investments. Like all big funds, investors closely watch the Form 13F that Bridgewater files with the Securities and Exchange Commission (SEC). Form 13F gives investors a quarterly update on what these funds are buying and selling. But there’s a catch. The funds have 45 calendar days after the quarter ends to file their 13F. So, investors are getting a pretty dated look at what these funds are doing. Still, there is insight to be gained into what some of the greatest investors in the world are thinking.
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Key Events This Week: All Eyes On J-Pow''s J-Hole Speech Now that Q2 earnings season is officially over, and liquidity is especially dismal with more than half of Wall Street pros on vacation, the annual plenary of the global central bank cognoscenti kicks off in Jackson Hole this week. As DB''s Tim Wessel puts it, the main macro event of the deep dog days of summer – where this year’s theme is “Reassessing Constraints on the Economy and Policy” – will be kicked off by Jerome Powell’s remarks on Friday morning. Commenting on the week''s main event, Bloomberg''s Garfield Reynolds writes that equity investors may be more on edge than normal going into this year’s Jackson Hole gathering as there is plenty of anticipation Powell "will push back hard against the considerable loosening in financial conditions, a decent part of which has involved the strong rebound rallies in equities." As Reynolds further notes, the dollar just had its biggest weekly gain since the pandemic and the risks look skewed toward the upside as "stocks globally have been moving inversely in line with the dollar, so if the greenback busts out to fresh record highs it’s likely equities would make fresh lows" and " s hares are a lot further away from this cycle’s troughs than the dollar is from recent peaks." That said, while the strength of the USD last week suggests that a J-Hole "Hawk-ano" is a popular market view, there are whispers that Powell will be more cognisant of the impact of USD strength on other economies and may therefore chose not to project an overly hawkish view.
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Futures Tumble As Market Braces For Jackson Hole Hawk-ano The staggering "most hated rally" melt-up, which we warned back in June would steamroll shorts, and which ended up being one of the biggest summery rallies on record, is officially over… ... with BofA superstar strategist Michael Hartnett proven correct again this morning, as stocks retreated further from the bear market peak he called at 4,328 last week , with US equity futures sliding more than 1% on Monday along with stocks in Europe as a risk-off mood took hold at the start of a critical week for global markets when central bankers gather at their annual Jackson Hole symposium starting on Thursday. Both S&P and Nasdaq futures slumped more than 1.1%, with spoos down 50 points to 4,180, as 10-year Treasury yields are little changed after briefly kissing 3.0%, while two-year yields rose about six basis points, deepening the yield-curve inversion that’s seen as a harbinger of a recession. The dollar spot index climbed to a five-week high, while gold and bitcoin slumped.
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Before markets open on Tuesday, these four companies (one a Dividend Aristocrat) are on deck to report quarterly results.
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This Is What Hedge Funds Bought And Sold In Q2: Full 13F Summary While we already covered what may have been the most boring 13F of the second quarter, namely that of Berkshire Hathaway which saw very few changes with Warren Buffett merely adding to a few legacy positions and trimming a few others (full breakdown here)… ... as well as the most interesting one, that from Tiger Global which confirmed that the so-called hedge fund was nothing more than a paper-hands retail investor, dumping most of its biggest holdings just as the market troughed, and leaving the world''s most overrated tech fund missing on all of the recent market upside... ... we also have had quite a few hedge funds inbetween. Courtesy of Bloomberg here are the highlights of the just concluded 13F seasons: Risk off: Chase Coleman’s Tiger Global Management, Dan Sundheim’s D1 Capital and Michael Burry’s Scion Asset Management were among firms that continued to offload equities in the period. Tiger’s aggregate exposure to stocks dropped by about 55% to $11.8 billion.
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Related Stocks: SE , STNE , NU , MELI , JD ,
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Related Stocks: TSLA , SPY , WFC , JD , BAC ,
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Bridgewater Associates , billionaire investor Ray Dalio ''s hedge fund, has wiped its portfolio clean of almost all Chinese stocks. What Happened: Bridgewater, which Dalio founded in 1975, sold all 7.48 million shares Alibaba Group Holding Limited (NYSE: BABA ) it held at the end of the second quarter, 13F filings by the firm showed. Bridgewater also liquidated its entire holdings in Bilibili Inc. (NASDAQ: BILI ), NetEase, Inc. (NASDAQ: NTES ), JD.com Inc. (NASDAQ: JD.com) and troubled … Full story available on Benzinga.com
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Ray Dalio’s giant hedge fund completely exited the five US-listed Chinese tech companies last quarter amid delisting risk and heightened geopolitical tensions.
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Retail stocks have taken a beating this year. As investors move into the second half, there are many concerning signs. Inflation reached 9.1% in June. That was the highest level in 40 years and especially concerning given Fed efforts to tamp down surging inflation with interest-rate hikes. Although the July inflation numbers were down slightly at 8.5%, there is plenty of fear still swirling. Indeed, consumer confidence levels fell 2.7 points in July as well. That sends mostly negative signals to the retail sector. So, it should be no surprise that the retail sector has performed poorly recently. One fairly representative ETF, The SPDR S&P Retail ETF (NYSEARCA: XRT ), is down 23.8% in 2022. The S&P 500 , on the other hand, is down a relatively modest 11.9% this year. That also means that there’s a lot of blood in the streets. There are plenty of companies in the retail sector poised to rebound very strongly. Here are a few that look particularly likely to fare well moving forward. ORLY O’Reilly Automotive $719.83 TJX TJX Companies $63.03 DG Dollar General $254.39 CHWY Chewy $48.85 JD JD.com $55.50 PRTS CarParts.com $8.94 MELI MercadoLibre $1,064.23 Undervalued Retail Stocks: O’Reilly Automotive (ORLY) Source: Jonathan Weiss / Shutterstock.com O’Reilly Automotive (NASDAQ: ORLY ) is a company and stock in the aftermarket industry.
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Futures Flat As Crushing 37bps Curve Inversion Screams Recession US futures are mixed on Thursday, first trading in the red, then turning green before moving unchanged, as investors shrugged off growth warnings from the bond market while Taiwan war fears faded further despite drills launched by China overnight. Oil bounced back from the lowest level in almost six months. Contracts on the S&P 500 were flat while Nasdaq futures were modestly green, suggesting the tech-heavy Nasdaq will extend an advance of 19% from its June 16 low on the back of a massive CTA, buyback and retail-driven buying frenzy. In premarket trading, Alibaba gained 3.4% after reporting revenue for the first quarter that beat the average analyst estimate. Adjusted earnings per American depositary receipt also topped expectations. Altice USA shares jumped 5% after the cable television provider reported second-quarter results and announced it received inquiries for its Suddenlink assets. US-listed Chinese tech stocks including JD.com, Pinduoduo and Baidu rise in premarket trading Thursday as Alibaba shares jump 3.9% after reporting better-than-expected revenue in the first quarter.
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Chinese stocks on U.S. exchanges have struggled this week despite a more upbeat market.
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Hong Kong is set to see billions of dollars flowing in from the mainland with more Chinese companies expected to upgrade their listings in the city to tap into a bigger pool of capital amid the looming threat of delistings in the United States. E-commerce giant Alibaba Group said on Tuesday it would apply to convert its Hong Kong secondary listing into a dual primary that would make it easier for mainland Chinese investors to buy its shares. The move is likely to prompt other major firms such as JD.Com Inc, Netease Inc and Baidu Inc to consider upgrading to dual primary listings, said Periscope Analytics founder Brian Freitas, who publishes on Smartkarma.
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Related Stocks: BABA , NTES , JD , ZLAB , NU ,
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Reuters Prominent British Sports Retailer JD Sports Sees Profits At Par With Last Year Thanks To Robust Demand Leading British sportswear retailer JD Sports Fashion PLC (OTC: JDSPY ) expects annual profit to be in line with last year’s performance thanks to solid demand for athleisure apparel and sportswear. JD, which offers Nike, Inc (NYSE: NKE ), adidas AG (OTC: ADDYY ), Puma, and in-house brands, said total sales for the five months of the year in its like-for-like businesses remain 5% up year-on-year. JD said earnings in the current year would reflect a more normalized trading pattern with 35% - 40% of the profits generated in the first half. Bavarian Nordic’s Monkeypox Vaccine Gets Thumbs Up From EU Regulator The European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) adopted a “positive opinion” recommending Bavarian Nordic A/S’s (OTC: BVNRY ) smallpox vaccine, Imvanex, be authorized to include protection against monkeypox on its label. The vaccine is approved for use against monkeypox in the U.S. and Canada, where it is marketed as Jynneos and Imvamune, respectively.
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NEW YORK, July 21 (Xinhua) -- U.S.-listed Chinese companies traded higher on Thursday with all the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note. Shares of NetEase and Pinduoduo advanced 6.16 percent and 4.44 percent, respectively, leading the gains in the top 10 stocks. Shares of Baidu and JD.com went up 2.66 percent and 2.22 percent, respectively, also am
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Futures Grind Higher With All Eyes On Red-Hot CPI After yesterday''s last hour stock market puke prompted by a fake CPI "leak" that showed inflation rising more than double digits in June which sent spoos just over 3,800, US index futures advanced ahead of a report that will show inflation hitting a fresh four-decade high according to Bloomberg consensus which expects headline inflation to print 8.8%, ensuring another 75bps rate hike. Contracts on the S&P 500 rose 0.3% by 7:15 a.m. ET after the underlying gauge declined over the past three days. Nasdaq 100 futures were up 0.4% after the tech-heavy index shed 3% this week, reversing most of last week''s gains. The dollar dropped from a 2 year high, bitcoin rose but held below $20,000 and WTI crude oil stabilized at about $96 a barrel after a tumble. Among notable pre-market movers, Twitter rose 1% after suing Elon Musk over his abandoned $44 billion takeover bid, accusing the billionaire of having buyer’s remorse after his fortune declined.
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A new COVID-19 surge and a tech crackdown weighed on a broad range of Chinese stocks.
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New Jersey, USA -- ( SBWIRE ) -- 07/05/2022 -- The latest study released on the Global E-Commerce Market by AMA Research evaluates market size, trend, and forecast to 2027. The E-Commerce market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors. Key Players in This Report Include: Walmart Inc. (United States), Amazon (United States), Alibaba (China), Otto Group (Germany), JD.com (China), eBay (United States), Rakuten (Japan), Zalando (Germany), Groupon (United States), Home Depot (United States) Download Sample Report PDF (Including Full TOC, Table & Figures) @ https://www.advancemarketanalytics.com/sample-report/31523-global-e-commerce-market Definition: E-commerce is an online retailing platform for trading of products and services using digital networks.
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Fed-up investors who dumped Alibaba Group (NYSE: BABA ) stock in March will regret it. BABA stock bottomed at $73.28 in mid-March 2022. The following month, Premier Li Kequiang said it would pause its crackdown on the sector. The shift to promoting economic growth proved helpful to BABA stock. Shares are up by around 60% from the 52-week low. It only needs less than 50% more in gains to return to yearly highs. Ticker Company Price BABA Alibaba Group Holding Limited $115.33 BABA Stock Roars Ahead China backed off on its push for common prosperity amid the Covid-19 omicron outbreak. The Chinese Communist Party (CCP) abruptly shut down Shanghai in late March. At the time, it planned lockdowns that would last no more than a week. Two months later, the economic devastation forced the government to shift its priorities. 7 Warren Buffett Stocks to Buy and Hold for the Next Decade To ease the devastating economic hardships on its people, the Chinese government will tone down its crackdown on technology firms.
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Futures, Global Markets Rally, Bonds Slide As Traders Turn More Bullish Following the best week for stocks in one month, global stocks extended gains on Monday on continued easing of fears for a hawkish Fed; US futures rose, with the Nasdaq 100 advancing 0.5% as by tech giants Amazon, Apple and Microsoft all rose in premarket trading. Tech shares also boosted indexes in Europe and Asia. Treasuries slipped, pushing the rate on the US 10-year note to 3.17%. Yields have retreated from June highs on growth worries, but whether that marks the end of the Treasury bear market is a live debate. The dollar fluctuated while oil and bitcoin rose. In the US premarket, major US technology and internet stocks were higher, poised to extend gains. The tech-heavy Nasdaq 100 closed up 7.5% last week, its best week since March. Among notable movers: Apple +0.6%, Microsoft +0.6%, Amazon.com +1%, Meta +0.8%, Nvidia +1.6% in premarket trading. Other notable premarket movers include: JD.com (JD US) is among the top performers in US-listed Chinese stocks, rising 5% in premarket trading, after tech investor Prosus disposed of its stake in JD.com for about $3.67 billion.
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Online Shopping Guide Platform Market 2022-2028 New Jersey, NJ -- ( SBWIRE ) -- 06/24/2022 -- Online Shopping Guide Platform Market - Global Outlook and Forecast 2021-2027 is latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Online Shopping Guide Platform Market. Some of the key players profiled in the study are Walmart, eBay, Alibaba, Target, Best Buy, Flipkart, Shop.com, Groupon, JD, Tmall, Pinduoduo, Vipshop, Dangdang, Amazon & NetEase. Get free access to sample report @ https://www.htfmarketreport.com/sample-report/3264178-online-shopping-guide-platform-market Online Shopping Guide Platform Market Overview: The study provides comprehensive outlook vital to keep market knowledge up to date segmented by Apparel, Cosmetic, Food, Books, Electrical Appliances & Other, , Mobile Terminal, Tablet Terminal & Computer Terminal and 18+ countries across the globe along with insights on emerging & major players.
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NFT Market SWOT Analysis Including Key Players Xingin Information Technology, TheOne.art, Tencent, SuperRare, Sorare, Solanart, Sky Mavis, SandBox, Rarible, OpenSea, NetEase, MakersPlace, Larva Labs, JD.com, Huandian Technology, Hangzhou Qulian Technology, Guangxi Fortune Technology, Foundation, Decentraland, Dapper Labs, Bytedance, Baidu, Alibaba London, UK -- ( SBWIRE ) -- 06/21/2022 -- NFT Market Overview 2022-2028: To provide an in-depth appraisal of the market, the most recent research looks into the complexity of revenue data, stock quirks, and information on noteworthy participants. A detailed and comprehensive examination of the industry with an emphasis on global market trend analysis is known as NFT market research. The purpose of this study is to provide readers with a comprehensive market overview as well as thorough market segmentation. A discussion of the global market''s challenges, as well as a description of the market''s primary shortcomings and positives, is included in the report.
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Source: Stock-Asso / Shutterstock.com Layoffs in 2022 have been rough already with several companies cutting their workforces just this week. These layoffs come as macroeconomic factors are affecting companies. That includes the ongoing struggle between The Federal Reserve and inflation. As inflation continues to rise, The Fed has been increasing interest rates in an effort to stop it. Unfortunately, The Fed has been unable to stop inflation from increasing. As that continues, more and more companies are looking to reduce their headcount as a way to protect profits during economic turmoil. Let’s check out some of the companies that have laid off employees this week below! 7 Long-Term Stocks That Never Go Out of Style Layoffs 2022 Coinbase (NASDAQ: COIN ) starts off our list as the crypto exchange reduced its workforce by 18% in fear of a crypto winter. Compass (NYSE: COMP ) is reducing its workforce by 10% as the housing market starts to cool down. Redfin (NASDAQ: RDFN ) is cutting its headcount by 8% for the same reason as Compass.
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Source: humphery / Shutterstock.com Chinese stocks are on the move Friday as investors react to news that Ant Group may finally be able to go public. To catch up traders real quick, Ant Group was planning for an initial public offering (IPO) back in 2020 . However, Chinese regulators cracked down on the company after founder Jack Ma criticized them for stifling growth. Fast forward two years and the People’s Bank of China (PBOC) has reportedly accepted Ant Groups application to become a financial holding company. Insiders are expecting PBOC to approve this application. If that happens, it means Ant Group is likely on track to hold its IPO, and it could be a doozy. Back in 2020, it was expecting to raise $37 billion from an IPO. That would have made it the largest IPO to date. News of regulators easing up on Ant Group is causing other Chinese stocks to ride higher today. Let’s go over them below! 7 Long-Term Stocks That Never Go Out of Style Chinese Stocks On the Move Friday Alibaba (NYSE: BABA ) stock is heading 1.8% higher as of Friday morning.
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Futures Rebound, Yen Crashes To End Turbulent Week On $3.4 Trillion Quad-Witch Day Ending a rollercoaster - but mostly lower - week for risk assets around the globe which saw the Fed hike the most since 1994, a shock Swiss National Bank hike and the latest boost in UK borrowing costs, as well as a bevy of central banks surprising hawkishly, stocks in Europe finally rebounded after hitting an 18 month low earlier this week, while US equity futures were bid Friday after a rout triggered by fears of recession pushed the S&P into a bear market on Monday. S&P futures rose 1% and Nasdaq futures rebounded 1.2% signaling steadier sentiment compared with Thursday’s plunge in US shares to the lowest since late 2020, after the BOJ refused to change its Yield Curve Control conditions, sending the Yen plunging, and helping the dollar snap two days of losses as Treasury yields were flat with the 10Y around 3.21%. The Stoxx Europe 600 index jumped about 1.2% after hitting its lowest level in more than a year.
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