Connect with us

International

New Oriental Launches Hong Kong Initial Public Offering

New Oriental Launches Hong Kong Initial Public Offering

Published

on

New Oriental Education (EDU) has today announced the launch of its Hong Kong Public Offering. This forms part of EDU’s global offering of 8,510,000 new shares and the listing of its common shares on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code "9901."

EDU’s American depositary shares ("ADSs"), each representing one common share, will continue to be listed and traded on the New York Stock Exchange, the company says.

The offering initially comprises of 510,600 new shares under the Hong Kong Offering and 7,999,400 new shares for the International Offering, (6% and 94% of the total shares respectively).

According to EDU, the total number of shares available under the Hong Kong Public Offering could be adjusted to up to a maximum of 2,042,400 new shares, representing 24% of offer shares initially available.

In addition, the company expects to grant the international underwriters an over-allotment option which will see EDU issue up to an additional 1,276,500 new shares in the International Offering, representing not more than 15% of the offering.

The offer price for Hong Kong will be maximum HK$1,399.00 per share, but the international offer price may be higher and will be set on November 3.

The company plans to use the net proceeds for investments in technologies to enhance students' learning experience, its business growth and geographic expansion, strategic investments and acquisitions, and general corporate purposes and working capital.

New Oriental is the largest provider of private educational services in China offering a wide range of educational programs, services and products to students throughout China.

For example, its services include K-12 after-school tutoring, test preparation, language training for adults, pre-school education, primary and secondary school education and materials as well as online education.

Shares in EDU have climbed over 39% year-to-date and the stock scores a bullish Strong Buy Street consensus. Despite the recent rally the average analyst price target indicates that shares could rise a further 8% in the coming months.

One analyst saying ‘buy’ is Tigress Financial’s Aaron Ju. The analyst notes that EDU’s AST (after-school tutoring) offline long-term business trends remain stable with an upward trajectory.

“EDU’s implementation of its Online-Merge-Offline models and strong summer promotion will further drive market consolidation and student enrollments” he comments, adding “We expect to see EDU’s offline revenue and student enrollment recover after 1QFY21 and believe EDU stock price still has significant upside and recommend purchase at current levels.” (See EDU stock analysis on TipRanks)

Related News:
Shopify Inks Social Commerce Partnership With TikTok
NCR’s 3Q Sales Dive 11% As Covid-19 Hurts Hardware Business
Microsoft Down After-Hours Despite Very Strong Earnings Beat

The post New Oriental Launches Hong Kong Initial Public Offering appeared first on TipRanks Financial Blog.

Read More

Continue Reading

Science

4 Biotech Stocks For Your August 2021 Watchlist

Investors could be shifting their focus to biotech stocks, should you do the same?
The post 4 Biotech Stocks For Your August 2021 Watchlist appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

Published

on

top biotech stocks to watch

4 Top Biotech Stocks To Watch This Month

As investors look for the next lucrative industry in the stock market, biotech stocks would often be in sight. It may not be the largest industry nor the most exciting, but it does boast some of the highest potential for returns. For example, a biotech company posting positive clinical trial results or gaining FDA approval will likely see big gains. Meanwhile, a delay or negative results could send a company’s stock in the wrong direction. 

We need to look no further than Moderna Inc (NASDAQ: MRNA) and Pfizer Inc (NYSE: PFE) when it comes to the importance health care brings to the table. Out of the blue, we were struck by a global pandemic that has changed everyone’s lives. This has then made people realize the important roles that biotech stocks play in crucial times like this. Demand for coronavirus vaccines remains high as fears of the delta variant escalate. With the potential need for booster shots in discussion, Moderna and Pfizer are able to raise the prices of their jabs in their latest European Union (EU) supply contracts. With that being said, are you also on the lookout for the top biotech stocks in the stock market today

Top Biotech Stocks To Buy [Or Sell] In August 2021

BioNTech SE

Firstly, we have the German biotech company, BioNTech. Put simply, it develops and commercializes immunotherapies for cancer and other infectious diseases. Over the past year, the company became known globally through its partnership with Pfizer to develop the coronavirus vaccine that is being used today. BNTX stock has skyrocketed over the past month due to fears of coronavirus escalating. It has risen over 45% just within the one-month period. 

In July, the company along with Pfizer announced that the U.S. government purchased an additional 200 million doses of its coronavirus vaccine. With this, the total number of doses supplied by the companies to the U.S. government will be at 500 million. These additional doses are expected to be delivered from October 2021 through April 2022. The U.S. government’s confidence in the vaccine puts both companies in a favorable position. After all, vaccines have been and will remain critical in protecting lives against the pandemic.

On another note, BioNTech has also announced the launch of its Malaria project last Monday. This project aims to develop a well-tolerated and highly effective Malaria vaccine and implement sustainable vaccine supply solutions on the African continent. Its efforts will include cutting-edge research and innovation, investments in vaccine development, and establishing manufacturing facilities across the continent. Given the company’s track record in tackling infectious diseases, there are reasons to believe this will be successful long-term. All things considered, would you consider buying BNTX stock?

biotech stocks (BNTX stock)
Source: TD Ameritrade TOS

Read More

Zai Lab Ltd

China-based biopharmaceutical company Zai Lab focuses on developing and commercializing therapeutics in oncology, autoimmune and infectious diseases. As of now, it has a broad pipeline of proprietary drug candidates that range from discovery stage to late-stage clinical programs. A few examples would be Niraparib, Zl-2103, ZL-1101, and others. 

Last Tuesday, the company and Entasis Therapeutics Holdings Inc (NASDAQ: ETTX) announced that patient enrollment in the ATTACK Phase 3 registrational clinical trial of sulbactam-durlobactam is now complete. This will be the largest antibiotic-resistant, pathogen-specific registrational trial conducted globally. Also, it is the first to focus specifically on carbapenem-resistant Acinetobacter infections. Should top-line data be announced in the coming months, it would be a huge step for both companies. 

Besides that, Zai Lab also collaborated with MacroGenics (NASDAQ: MGNX) to develop and commercialize preclinical bispecific antibodies in oncology during its second quarter. Under the terms of the agreement, Zai Lab receives commercial rights in China, Japan, and Korea while MacroGenics will have the rights in all other territories. Now, the collaboration leverages both companies’ unique research capabilities and gives Zai Lab access to MacroGenics’ proprietary technologies to expand its innovative oncology portfolio. With these in mind, would ZLAB stock be a top biotech stock to buy?

best biotech stocks (ZLAB stock)
Source: TD Ameritrade TOS

[Read More] Best Communication Stocks To Watch Right Now

Vertex Pharmaceuticals Incorporated

Next up, we may have one of the top biotech companies that have flown under the radar of many investors, Vertex. For the uninitiated, the company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF). Its marketed medicines are ORKAMBI and KALYDECO. 

Just last week, Vertex announced that it will initiate a Phase 3 development program for the new once-daily investigational triple combination of VX-121/tezacaftor/VX-561(deutivacaftor) in the second half of 2021. The data from its Phase 2 study were mostly encouraging. Hence, the company aims to develop a more effective treatment regimen with the potential to restore cystic fibrosis transmembrane conductance regulator function in people with CF to even higher levels than currently achievable. 

During its second quarter, Vertex showed continued, and significant growth in its CF franchise. Its product revenues came in at $1.79 billion, an increase of 18% year-over-year. Thus, allowing the company to raise its full-year guidance for product revenues to $7.2 to $7.4 billion. Moreover, Vertex has also made important progress with its pipeline programs with five programs in mid to late-stage clinical trials. So, would you consider investing in VRTX stock on the dip? 

VCYT stock
Source: TD Ameritrade TOS

[Read More] Top Gaming Stocks To Buy Now? 4 Names To Watch

Veracyte Inc

Veracyte is a genomic diagnostics company. The company utilizes ribonucleic acid (RNA), whole-transcriptome sequencing combined with machine learning, and produces genomic tests. The genomic tests include Afirma Genomic Sequencing Classifier (GSC), Percepta Bronchial Genomic Classifier, Envisia Genomic Classifier, and Afirma Xpression Atlas. 

Investors could be watching VCYT stock following the company’s recent new data announcement and second-quarter earnings report. So, Veracyte’s new data suggest the Decipher Prostate Biopsy genomic classifier (GC) may help guide treatment decisions for prostate cancer patients who are candidates for active surveillance (AS). It has found evidence that Decipher scores predict time to definitive treatment and time to treatment failure among men with early-stage prostate cancer. With this, it fills a critical gap in prostate cancer treatment. 

On the other hand, its second-quarter financial results showed significant momentum with particularly strong growth in its thyroid and urologic cancer product lines. Its total revenue was $55.1 million, up by 166% year-over-year. Meanwhile, its total volume of genomic tests grew to 20,856, an increase of 215% compared to the prior year’s quarter. If we take into account the pending HalioDx acquisition, it will further fuel Veracyte’s global cancer diagnostics growth and leadership. So, would you be watching VCYT stock right now?

VCYT stock
Source: TD Ameritrade TOS

The post 4 Biotech Stocks For Your August 2021 Watchlist appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

Read More

Continue Reading

Stocks

Best Cheap Stocks To Buy Now? 4 Tech Stocks To Know

Could these tech stocks be worth betting on now?
The post Best Cheap Stocks To Buy Now? 4 Tech Stocks To Know appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

Published

on

best cheap stocks to buy now (tech stocks)

Are These The Top Tech Stocks To Buy This Week?

With the current momentum in the broader stock market, investors could be considering tech stocks among other growth areas now. For starters, companies across the board continue to see stellar growth this earnings season. According to global market data analysis firm Refinitiv, overall earnings across the S&P 500 are expected to rise 76% year-over-year. Notably, this would mark its fastest growth since 2009. With the economy having gone into full swing for the past quarter, this would make sense. Now, tech stocks, in particular, could be well-positioned to leverage the current market conditions.

For the most part, the industry does not seem to be slowing down anytime soon as well. Evidently, some of the biggest names in tech known as FAANG stocks reported solid earnings over the past few weeks. To highlight, Amazon (NASDAQ: AMZN) saw significant growth across its wide portfolio. Accordingly, it posted sizable year-over-year jumps of 87% in ad revenue and 37% in cloud revenue. Elsewhere, Microsoft (NASDAQ: MSFT) is reportedly looking to invest in Oyo, one of India’s most valuable startups. Backing the leading budget hotel chain operator in the region would be a unique play by Microsoft. Nonetheless, the company appears keen to broaden its investments and current portfolio.

Overall, these are but two instances of the constant growth in the tech industry now. Most would argue that the stock market today is home to plenty more upcoming tech stocks worth knowing. Should all this have you interested to invest in some yourself, here are four to watch this week.

Best Tech Stocks To Buy [Or Sell] Today

Lam Research Corporation

Lam Research is a tech company that focuses on its innovative wafer fabrication equipment and services. Its products allow chipmakers to build smaller, faster, and better-performing electronic devices. It combines its superior systems engineering capabilities with its unwavering commitment to customer success. In fact, nearly every advanced chip is built with the company’s technology. LRCX stock currently trades at $641.80 as of Monday’s closing bell and is up by over 68% in the past year. On July 28, 2021, the company reported its June 2021 quarter financials.

Firstly, the company posted revenue of $4.15 billion for the quarter, increasing by over 45% year-over-year. Secondly, the company also saw its earnings per share increase by over 70% year-over-year at diluted earnings per share of $7.98. Lam Research says that strong semiconductor demand and rising device complexity are driving higher levels of wafer fabrication equipment investment. It also says that its edge in technology and collaboration with customers positions the company to extend its leadership across all its market segments. The company also ended the quarter with $6 billion in cash and cash equivalents. Given this piece of news, will you consider adding LRCX stock to your watchlist?

top tech stocks (LRCX stock)
Source: TD Ameritrade TOS

Read More

Virgin Galactic Holdings Inc.

Moving on, we have Virgin Galactic, a spaceflight company with headquarters in California and operations in New Mexico. The company runs a commercial spaceflight business, with regular paid passenger service flights scheduled to begin in 2022. SPCE stock closed Monday’s trading session up 6.30% at $31.87 a share. The company will be reporting its second-quarter 2021 financials on August 5, 2021, after the market closes.

On July 11, 2021, company founder Richard Branson and three other employees rode on a flight as passengers, marking the first time a spaceflight company founder has traveled on his own ship into outer space. This successful flight is a landmark achievement for the company and a historic moment for the new commercial space industry. The team behind this successful flight will also open the door for greater access to space for an industry that is still in its infancy. All things considered, will you buy SPCE stock ahead of it popularizing commercial spaceflight?

best tech stocks (SPCE stock)
Source: TD Ameritrade TOS

[Read More] 4 Top E-Commerce Stocks To Consider Buying Right Now

Roblox Corporation

Roblox is a tech company that focuses on video game development. Its tech platform enables billions of users to play, learn and communicate. Furthermore, it empowers its global community of developers who in turn produce its own immersive multiplayer experiences using Roblox Studio. In essence, the company is one of the top online entertainment platforms for audiences under the age of 18. Shares of RBLX stock closed Monday’s trading session at $78.31 apiece.

Last month, the company announced a strategic partnership that will bring more Sony Music (NYSE: SONY) recording artists to the Roblox metaverse. Both companies will work together to develop innovative music experiences for the Roblox community. It will also offer a range of new commercial opportunities for Sony Music artists to reach new audiences and generate new revenue streams around virtual entertainment. The agreement builds on an existing relationship between the two companies that included previous collaborations with big names such as Lil Nas X’s hit virtual performance on Roblox in November 2020. With that being said, will you consider RBLX stock a top tech stock to add to your radar this month?

top tech stocks (RBLX stock)
Source: TD Ameritrade TOS

[Read More] Best Stocks To Invest In 2021? 4 Dividend Stocks To Watch

ContextLogic Inc.

Another emerging name in the tech space to consider now would be ContextLogic or Wish for short. In brief, the company operates via its proprietary e-commerce platform, Wish. Through a combination of tech and data science, Wish helps to facilitate transactions and interactions between buyers and sellers. The Wish platform provides consumers with an “innovative discovery-based mobile shopping experience”. Accordingly, this would appeal to homebound consumers throughout the current pandemic. In terms of scale, Wish serves millions of consumers from over 100 countries across the globe. The company accomplishes this via its network of over half a million merchants.

Now, WISH stock ended Monday’s trading day up a modest 4.37% at $10.41 a share. Could it be worth investing in now? If anything, the company’s latest earnings figures could provide a clearer understanding on this end. Back in May, the company raked in total revenue of $772 million for the quarter. This marks a solid 75% year-over-year surge. Moreover, Wish also saw its core marketplace revenue per active buyer surge by 76% over the same time. Not to mention, the company’s logistics revenue reportedly quadrupled year-over-year. With Wish set to report its second-quarter fiscal next week, would you consider WISH stock a top cheap tech stock to watch now?

WISH stock
Source: TD Ameritrade TOS

The post Best Cheap Stocks To Buy Now? 4 Tech Stocks To Know appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

Read More

Continue Reading

Government

Deflation From the Beginning: The Soothsayer (bonds) Said Beward The Ides of March

It’s been a little too on-the-nose. Claiming only a minimum level of dramatic license here, what we have continuing toward an uneasy future is a case of life imitating art (which imitated real life). We’ve all heard of Shakespeare’s famed soothsayer…

Published

on

It’s been a little too on-the-nose. Claiming only a minimum level of dramatic license here, what we have continuing toward an uneasy future is a case of life imitating art (which imitated real life). We’ve all heard of Shakespeare’s famed soothsayer cautioning the arrogant Roman Emperor Caesar to watch his back on March 15. How about the 18th?

Beware the Ides of March…

Comforted by his own ascension thereby complacent as to the content of the message laid generously in front of him, famed Julius would transform into an early case study of recency bias. Who would Caesar ever fear, conquering much of the known world with such combination of on-demand brute strength and strategic cunning?

Friends, Romans, Countrymen, Lend Me your Ears.

We’ve been talking almost nonstop about very nearly the ides of March 2021 since around that very date. On March 18, everything that’s become interesting to the point of seriousness seems to have shown itself beginning right then (and one more I’ve neglected to display for you these long four and a half months; more on that later). You can’t mistake the dramatic aftermath of mid-March:



Nah, that’s just too much money, said Caesar, the imperial mint coining about the massive influx bringing only the most favorable tides to the empire’s fate. Money market funds stuffed with bank reserves parking them with the central bank’s “soak up” window (reverse repo). Nothing to fear from a known (according to Investopedia) technical matter, right?

Not content to explain the one, maybe “too much money” could account for LT yields, too, with the banking system flush with deposits and seeking some kind of place for them.

But if these were the product of all good things, why wouldn’t banks lend instead? Ssssshhhhhhhhh,

In fact, it has become a cottage media industry attempting to place what outwardly seems contradictory behavior in the most non-threatening way. At best, Treasury notes and bonds like the RRP; at worst, Bloomberg’s writers reassure themselves before opining forcefully into the public’s ear how maybe it’s all a big mystery. Perhaps just corona stuff.

Over the weekend, China’s National Bureau of Statistics (NBS) published some alarms of its own. Taken in the most straightforward manner, these Purchasing Manager Indices (PMI) speak forthrightly of a global slowdown, material economic weakness continuously in that direction.

Nope; can’t be, says the mainstream. Anything else, sure, but not a poor economy. No, no:

This was the weakest pace of increase in factory activity since a contraction in February 2020, amid the Delta variant of COVID-19 outbreak in the eastern city of Nanjing, higher material cost, and extreme weather.

The numbers by themselves don’t paint much of the picture: China’s official manufacturing PMI dropped to 50.4 in July 2021 – barely more than the magic number – from 50.9 in June. The New Orders component was just 50.9, while the diffusion for New Export Orders sank to 47.7.



Perhaps more concerning, if you aren’t buying bad weather as an excuse, the non-manufacturing PMI failed to rally from one of its lowest on record the previous month (53.5). Instead, the NBS projects 53.3 for the critical month of July, which is about the same as October 2015 when China’s economy was circling the drain instead of accelerating as had been predicted.

This morning’s ISM merely added to the same global picture. While the headline estimate remains elevated at a seemingly robust 59.5 for July, it’s the direction (and timing) with which at least the US manufacturing economy appears to be taking. Barely a few months ago the index was sky high (64.7) and seemingly on its way to the moon with nothing on Earth able to realistic threaten its dominance.

You’ll notice how in each of these charts, though they may be “soft” data taken to measure sentiment, they keep coming back to the same point of time. It’s far enough back in time that it can’t be delta corona, it’s not one or the other, Chinese weakness due to Chinese factors, or US slowing due to US factors, rather what’s pretty evident is the synchronized condition apart or outside the mysteries or benign excuses.



What point? Which time? March!

As I keep pointing out, and will continue for the foreseeable future, bond yields (very much unlike stocks) are created from trading inside and next to the real monetary system and all the intricate ways it influences and takes stock of the real economy – in real time. Here we have across the entire bond market (much more than just UST yields or RRP use) useful signals, a soothsayer’s soothsaying of monetary and economic circumstances which only seem like the impenetrably flowery language of Middle English poetry to the public purposefully distracted from their pure worth.

In other words, they only seem like they need to be translated because the mainstream is very far from native to its language. Like Julius Caesar, that convention – from media to Economists to central bankers – deems such forecasting as the unserious work of pagan ritual when, irony of ironies, the real science is in the trenches of the bond market whereas Economics and its media cult tries to divine economic strength from a comical concoction of reading tea leaves into astrological faith (econometric models).

We’ve been warned since the Ides of March that economic weakness is real and getting “more” real by the month. Not in one place or another, but in enough places (practically everywhere, including the big economies) that we better start paying serious attention (if not actually doing something about it, but, again, central bankers). Unheeded, the weakness was written off as everything it never was nor could have been.

Not by all accounts, but by a whole lot we see much more than random coincidence. The global economy took a bad misstep around March, one that was immediately picked up on in bonds, and rather than regaining its footing to march onward it has only stumbled more and more.

Caesar ended up dying on the steps of the Senate because he superciliously believed in his own hype. Translated into 2021’s terms, to get to INFLATION HYSTERIA!!!! this required imagining first an unbreakable strong recovery. Such “strength” and its foregone inflation was instead unscientifically conjured to sell a Ptolemaic narrative rather than being a product of honest, rational analysis; and then when challenged – almost immediately (see: Feb 25) – the response was to keep whistling past the graveyard.

Life and art.

Read More

Continue Reading

Trending