SummaryNIO remains fundamentally weak with persistent unprofitability, deteriorating net income, and a shrinking cash position, leading to a Strong Sell rating.Intensifying competition from legacy aut
Hong Kong Stocks Open Higher; ZTE Rises 3%; Nio, SMIC up 2%
On December 23, 2024, the Hong Kong stock market opened higher. The Hang Seng Index rose 0.62%, the Hang Seng Technology Index rose 0.84%.In terms of industry concepts, the education sector, semiconductor sector, oil stocks, and traditional Chinese medicine stocks showed mixed performance.Among individual stocks, ZTE rose 3.21%; Nio rose 2.3%; SMIC rose 1.8%; Meituan rose 1.6%; JD.com rose 1.5%; XPeng-W rose 1.13%; Xiaomi-W rose 1.11%; Tencent rose 1%.
Palantir Crashed Over 9% on Monday As This Issue Could Limit Its Future Gains
Palantir Technologies has been one of this year's standout technology stocks. However, customer concerns over data ownership could limit the analytics-software company's future gains, according to William Blair analysts.The worries for Palantir were highlighted by a presentation given by U.S. Army officials last week. Comments made in the presentation suggested there might be friction between the Army and Palantir over data ownership as part of the company's four-year $458 million contract for the Army Data Platform, according to William Blair analyst Louie DiPalma. That contract started in December 2019 and is set to end within weeks."The tone of the comments and plan to 'maximize the use of open-source vendors' provide a strong indication that Palantir's renewal contract...will be significantly less than the original $458 million," wrote DiPalma in a research note.DiPalma said it seemed likely the Army would give Palantir a two-year contract and build a future system with multiple ve
Citigroup Posts Better-than-expected Earnings and Revenue
Citigroup reported second-quarter earnings and revenue that topped expectations.Here’s how the company fared in the quarter compared to what analysts polled by Refinitiv expected from the banking giant.Earnings per share: $1.33 vs. $1.30Revenue: $19.44 billion vs. $19.29 billion“Amid a challenging macroeconomic backdrop, we continued to see the benefits of our diversified business model and strong balance sheet,” CEO Jane Fraser said in a statement.While beating Street estimates, Citi’s revenue