雖然這篇Fiscal federalism鄉民發文沒有被收入到精華區:在Fiscal federalism這個話題中,我們另外找到其它相關的精選爆讚文章
在 fiscal產品中有271篇Facebook貼文,粉絲數超過8,093的網紅貓的成長美股異想世界,也在其Facebook貼文中提到, 🌻 美國聯準會(Fed)在美東時間22日下午2時(台灣23日凌晨2時)宣布利率維持在趨近零的水準,但暗示升息可能會比預期來得快一些,同時也大幅下修今年的經濟展望。 https://udn.com/news/story/6811/5764746 🌻Adobe(ADBE)電話會議內容讀後感 ADB...
同時也有266部Youtube影片,追蹤數超過5,230的網紅初心者鉄道探検隊,也在其Youtube影片中提到,カメラはGoPro HERO 9を使用しています→https://amzn.to/2PD1q7k GoPro自撮り棒 + 三脚 + セルカ棒→https://amzn.to/2PxiMCA 鉄道の基礎知識[増補改訂版]→https://amzn.to/2Po6dtx レールウェイ マップル 全国鉄道...
「fiscal」的推薦目錄
- 關於fiscal 在 BusinessFocus | 商業、投資、創科平台 Instagram 的最佳解答
- 關於fiscal 在 Carlos Martinez Pereira Instagram 的最佳貼文
- 關於fiscal 在 政經八百 Instagram 的精選貼文
- 關於fiscal 在 貓的成長美股異想世界 Facebook 的精選貼文
- 關於fiscal 在 本土研究社 Liber Research Community Facebook 的最佳解答
- 關於fiscal 在 貓的成長美股異想世界 Facebook 的精選貼文
- 關於fiscal 在 初心者鉄道探検隊 Youtube 的最讚貼文
- 關於fiscal 在 Appleが大好きなんだよ Youtube 的最讚貼文
- 關於fiscal 在 豐富 Youtube 的最讚貼文
fiscal 在 BusinessFocus | 商業、投資、創科平台 Instagram 的最佳解答
2021-09-16 02:30:51
【@businessfocus.io】約翰遜增稅計劃引商界反彈 英國商會批評拖累就業增長 . 英國首相約翰遜(Boris Johnson)7日在國會提出一項針對勞工、僱主及部分投資者的增稅計劃,借此補貼和改革醫療及社會保障系統。儘管約翰遜的增稅方案引發商界反彈,認為該計劃「不合時宜和邏輯」以及拖累就...
fiscal 在 Carlos Martinez Pereira Instagram 的最佳貼文
2021-09-16 05:39:06
A Fiscal Year to Remember Corona came, Corona conquered the World, But many leaders still made it. Cheers to another great year ahead! Be the c...
fiscal 在 政經八百 Instagram 的精選貼文
2021-09-10 21:14:04
#八百回合經濟談 〔#讓振興券飛一會兒 #是逆風高飛還是卵覆鳥飛?〕 上禮拜的 #桃園市普發五千 提到發放振興券或現金對財政健全的傷害,這週政經八百就帶壯士們談談——振興券究竟有沒有效果? ▌ 振興券呼聲再起 在近乎完美防守一年多後,今年五月台灣進入三級警戒,迎來的是各...
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fiscal 在 初心者鉄道探検隊 Youtube 的最讚貼文
2021-08-23 16:00:04カメラはGoPro HERO 9を使用しています→https://amzn.to/2PD1q7k
GoPro自撮り棒 + 三脚 + セルカ棒→https://amzn.to/2PxiMCA
鉄道の基礎知識[増補改訂版]→https://amzn.to/2Po6dtx
レールウェイ マップル 全国鉄道地図帳 https://amzn.to/2PQ6rd1
格安ドメイン取得サービス!ムームードメイン
https://px.a8.net/svt/ejp?a8mat=3BICLD+B0IR7M+348+1BQBKJ
ナウでヤングなレンタルサーバー!ロリポップ!
https://px.a8.net/svt/ejp?a8mat=3BICLD+BZ1UR6+348+60WN7
オンライン予約・決済可能な日本旅行「赤い風船」国内宿泊
https://px.a8.net/svt/ejp?a8mat=3BG373+7K36JU+Z9G+C2O5F
━━━━━━━━━━━━━━━━━━━━━━━━━━━━
2021年7月17日撮影
足柄駅(あしがらえき)
小田急電鉄小田原線
1927年(昭和2年)4月1日 開業。「直通」の停車駅となる。なお、各駅停車は新宿 - 稲田登戸(現・向ヶ丘遊園駅)間のみの運行であり、当駅までの運行はなかった。
1945年(昭和20年)6月 従来、新宿 - 稲田登戸間のみの運行の各駅停車が全線で運行されることとなり、各駅停車の停車駅となる。同時に「直通」は廃止される。
1946年(昭和21年)10月1日 準急が設定され、停車駅となる。
1960年(昭和35年)3月25日 通勤準急が設定され、停車駅となる。
1964年(昭和39年)11月5日 通勤準急が廃止される。
1983年(昭和58年)3月22日 一部の急行の停車駅となる。
1984年(昭和59年)1月31日 貨物扱い廃止。日本専売公社専用線も同時に廃止。
2008年(平成20年)
駅舎が建て替えられる。
3月15日 新松田以西に準急が乗り入れなくなったため準急の停車駅から外れる。
2018年(平成30年)3月17日 小田原から本厚木まで各駅に停車する急行について、新松田で各駅停車から急行に種別変更する形態となるため、急行の停車駅から外れる。また、当駅からの箱根登山線直通列車が廃止される。
2020年(令和2年)度の1日平均乗降人員は3,408人で、小田急電鉄の全70駅中69位であり、南新宿駅に次いで2番目に少ない。
Cameras use Gopro Hero 9
Ashigara station
Odakyu Electric Railway Odawara Line
It was opened on April 1, 1927.
The average average passenger staff in fiscal 2020 is 3,408 people, 69th in all 70 stations of Odakyu Electric Railway. The second is second to Minami-Shinjuku Station.
相機使用 GoPro HERO 9
足柄站
小田急電鐵小田原線
它於 1927 年 4 月 1 日開業。
2020年日均上下車人次為3408人次,在小田急電鐵70個車站中排名第69位。
它是僅次於南新宿站的第二少。
相机使用 GoPro HERO 9
足柄站
小田急电铁小田原线
它于 1927 年 4 月 1 日开业。
2020年日均上下车人次为3408人次,在小田急电铁70个车站中排名第69位。
它是仅次于南新宿站的第二少。
카메라는 GoPro HERO 9를 사용하고 있습니다
아시가라 역
오다큐 전철오다 와라 선
1927 년 4 월 1 일 개관했다.
2020 년도 1 일 평균 승강 인원은 3,408 명으로, 오다큐 전철의 총 70 역 중 69 위.
미나미 신주쿠 역에 이어 2 번째로 적다. -
fiscal 在 Appleが大好きなんだよ Youtube 的最讚貼文
2021-04-26 15:54:43今日は月曜日!ここ1週間のニュースのまとめです。4/21発表の新製品の補足情報やここ1週で出てきた噂や公式式発表となります。
4月26日午後3時くらいまでの情報です。その後別の情報が出る可能性はありますがそれは来週扱います。
今日は月曜日ニュースと噂1週間分をまとめます。ニュース系なので早めにあげます。公式告知された4/21イベント後の補足情報やiOS14.5のリリースが迫っているなどになります。
4月26日午後3時くらいまでの情報です。その後別の情報が出る可能性はありますがそれは次回扱います。
※ニュースと噂のまとめ動画については、WEBで調べれば出てくることしか入ってないとのご指摘もたまにありますが、ご要望もあるので「まとめ」ることに意味があると思ってやっています。Apple系のブログの方々も同じソースを使ってることも多いのでかぶるのは仕方ないですね。自分で検索せずに音声とスライドでざっくり流れがわかることを好む方向けです。
<引用させていただいた記事>
9to5Mac
https://9to5mac.com/2021/04/25/ios-14-5-release-date-features/
https://9to5mac.com/2021/04/25/interview-apple-m1-mac-ipad-pro/
https://9to5mac.com/2021/04/24/hermes-offering-699-airtag-travel-tag-and-new-570-magsafe-case-exclusively-on-their-website/
https://9to5mac.com/2021/04/22/bloomberg-ios-15-to-feature-redesigned-ipad-home-screen-new-notifications-features/
https://9to5mac.com/2021/04/22/iphone-12-models-accounted-for-61-of-us-iphone-sales-in-fiscal-q2-2021-report-says/
ソース記事
https://files.constantcontact.com/150f9af2201/a652e3e6-27bd-49e2-b704-d49da38bd24b.pdf?AID=10296303&PID=6147232&SID=kny32ffdg90023dg0mcu0&pn=cjaffiliate
https://9to5mac.com/2021/04/21/2021-macbook-pro-ports-leak/
MacRumors
https://www.macrumors.com/2021/04/23/airtags-fcc-submissions-two-years-ago/
https://www.macrumors.com/2021/04/21/touch-id-magic-keyboard-m1-ipad-pro/
https://www.macrumors.com/2021/04/21/applecare-for-mac-extended-coverage/
https://www.macrumors.com/2021/04/19/wedbush-event-ipads-price-increase-and-surprises/
https://www.macrumors.com/2021/04/25/when-to-download-ios-14-5/
TrendForce
https://www.trendforce.com/presscenter/news/20210421-10771.html
<それぞれ詳細比較をプレビューしています>
まだの方はぜひご覧ください。
皆さんどれ買います?2021春のApple新製品・発売前総括&アンケート
https://youtu.be/HgtmyO51ClI
先代は買って良かった10本指!「Apple TV 4K」新型のまとめ!性能向上魅力アップ・iPhoneでカラー調整にリモコン刷新だって
https://youtu.be/_7twZJrzacU
本日の予約開始直前!Appleの忘れ物追跡タグ「AirTag」を解説・絶対買います!影の本命?ダークホース?
https://youtu.be/ApnRrbKAH8Q
薄い!2021年新型 M1 iMacを10分で解説!旧機種他 Mac5機種と徹底比較・どう違う?比較表!
https://youtu.be/Emqt9Tbu_c8
先代モデルやiPad Air 4と比較!10分でわかる「2021新型 iPad Pro」・11”第3世代/12.9”第5世代を発売前解説
https://youtu.be/dPKZ7EqFVzM
テンコ盛り!4/21 Appleイベントの概要を4分でまとめ+全体の流れを8分で・iMacにAirTag!iPad Pro/Apple TV
https://youtu.be/WkCj_qfJZZ4
再生リスト:4/21イベントまとめ
https://youtube.com/playlist?list=PL1bNs6yZxdxmdT2C_fB9_EO_Uwr0NOq1q
撮影機材
・Panasonic Lumix GH5s
・Panasonic Lumix GH5
・Canon Power Shot G7X Mark II
・iPhone 12 Pro(Simフリー)
・iPhone 12 mini(Simフリー)
・iPadPro 11”(Simフリー)
・DJI OSMO Pocket
・Moment iPhone 外付けレンズ&専用ケース
動画編集
Final Cut Pro X
Adobe Illustrator(スライド)
Adobe Photoshop(スライド)
Adobe Character Animator(アニメーション)
※チャンネル全般で使っているものであって動画によって機材アプリは違います。
#Apple
#ニュースと噂
#Apple新製品
本編で使用した曲:Twin Musicomの「Carefree Melody」はCreative Commons By Attribution License.(https://creativecommons.org/licenses/by/3.0/us/)によりライセンス付与されています。
アーティスト: http://www.twinmusicom.org/ -
fiscal 在 豐富 Youtube 的最讚貼文
2020-12-02 12:30:02主持人:陳鳳馨
來賓:丁學文
主題:一週國際經濟趨勢
(1)《經濟學人》封面故事:The resilience of democracy 民主政治的修復力
(2)《經濟學人》緒論:Winners and losers 談疫情之下商業世界中的贏家、輸家
(3)《經濟學人》緒論:Fiscal stimulus 財政刺激政策
(4)《經濟學人》與中國相關 / 共 5 篇。選讀:
-- 財經板塊:Overdue action 逾期動作〈解析中國的債務催收機構〉
-- 商業板塊:The attention economy 注意經濟〈探討中國直播平台的數據造假〉
節目時間:週一至週五 07:00-09:00am
本集播出日期:2020.12.02
#陳鳳馨 #TheEconomist #一週國際經濟趨勢
圖片取自:The Economist
https://www.economist.com/weeklyedition/2020-11-28
📣 更多 #財經起床號 專題影音:https://bit.ly/2QvBR55
-----
訂閱【豐富】YouTube頻道:https://www.youtube.com/c/豐富
按讚【豐富】FB:https://www.facebook.com/RicherChannel
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fiscal 在 貓的成長美股異想世界 Facebook 的精選貼文
🌻
美國聯準會(Fed)在美東時間22日下午2時(台灣23日凌晨2時)宣布利率維持在趨近零的水準,但暗示升息可能會比預期來得快一些,同時也大幅下修今年的經濟展望。
https://udn.com/news/story/6811/5764746
🌻Adobe(ADBE)電話會議內容讀後感
ADBE前兩天發表財報了.
這次ADBE在財報後下跌, 主要是兩個原因(如下). 不過個人覺得是瑕不掩瑜:
1. 因為之前已經漲了不少(投資人期望太高)
2. 因為Digital Marketing這部分的業務受到季節性的影響, 所以表現不是很突出(沒有比預期高出很多)
a. net new Digital Media ARR (3% beat vs guide, vs 15% beat in 2Q21 vs 35% beat in 3Q20).
b. 有分析師在問(“Maybe just -- can we double-click on the seasonality commentary in the quarter? Because if we look at the beat versus guidance on net new digital media ARR, it looks, at the same time you had the weakest beat, but then the strongest guide in the last three years, which kind of speaks to and confirm some of those seasonality comments that you made.)
i. 高層對此的回答是, 主要是疫情後, 加上正值夏季, 大家的日子回復到正常&放假外出, 所以這部分的業務有受到影響(I think going into the quarter, we had expected that the consumer with a little bit more return to normalcy as what's happening in the environment.)
ii. 高層又說了一些話, 不過重點就是他不認為這是甚麼大事”So, net-net, I would say that the growth prospects for that particular business and the growth drivers remain intact. But again, very much in line. And this is what we feel good about the insights that we're getting on the business.”
iii. 也提到, Q4通常會是digital marketing業務的旺季(表現會不俗的意思)
另外, 覺得這次令我印象深刻的是, 當高層與分析師提到這些事情:
• 常在一些公司的電話會議中提到omnichannel這個字(疫情後, 更明顯了). 這次高層也有提到. ADBE可說是omnichannel概念股:
o “I mean, a big part of that is more and more companies are thirdly doing the multi-channel omnichannel, whatever they want to call it. And I think that's only going to continue to be a driver of our Digital Experience Solutions. Because today that stable stakes and so we just look at it and say whether you're shopping in-store over they are shopping online. You need a solution that treats you like a customer that we know of.”
• 網路上影片(video)的興起, 以及串流影音, 有提高了Adobe的營收天花板(用句分析師的術語, 就是TAM (total addressable market) expansion.
• 當使用者製作了越來越多的內容, 內容管理(content management)的能力就越顯重要, 內容上的流程管理(workflow)也越顯重要. Adobe的產品能夠幫內容製作者解決這樣的問題.
• 而Adobe各產品間的相容性, 標準化, 整合能力, 是它的競爭優勢之一:
o And one of the things we did really well is what we called our named user deployment and how, you know, when we have these enterprise licensing agreements, we offer enterprises the ability to download and distribute within the companies. And the more we do training and evangelism of the products, that leads to adoption. So, I would say there's an element of standardization, there's an element of more content.
而最近ADBE有個新聞, 引起了我的注意, 就是它即將在自己的平台上, 提供付款服務(payment service). 根據之前研究SHOP的經驗, 這有可能會對股價造成一定的漲幅:
On Sept. 15, Adobe announced that it will add payment services to its e-commerce platform this year to help merchants accept credit cards and other ways of paying. The move will deepen Adobe's rivalry with e-commerce firm Shopify (SHOP).
For the service, Adobe has partnered with PayPal (PYPL), which will process a variety of payment types, including credit and debit cards as well as PayPal's own payment and buy-now-pay-later offerings.
https://www.investors.com/news/technology/adbe-stock-adobe-beats-fiscal-q3-targets/
接下來該怎麼辦? 對於基本面良好的公司如ADBE, 我能說的就是buy the dip(逢低買進)了. 供參.
🌻The Facebook Files
一個星期前, WSJ上面有個關於FB的大篇幅調查報導. 有興趣的可以看看.
The Facebook Files
https://www.wsj.com/articles/the-facebook-files-11631713039
這篇文章挺長, 也沒有看到華爾街中文版本的完整翻譯, 不過可以看看這篇:
https://on.wsj.com/2ZmFimp
"《華爾街日報》的相關調查顯示,這家社交媒體巨頭心知肚明,其平台會傷害用戶,而且是以該公司常常完全了解的方式造成傷害。目前,全球近半數人口都是Facebook旗下平台的用戶。其中一些證據尤其令人不安:據《華爾街日報》報導,Facebook的內部研究顯示,在報告稱有過自殺念頭的青少年中當中,有13%的英國用戶和6%的美國用戶把這種念頭歸結於Instagram。"
另一篇相關新聞:
https://www.thenewslens.com/article/156683
"《華爾街日報》於13日揭露Facebook的XCheck系統,也就是內部系統中的VIP名單,數百萬名人、政治人物與記者等知名公眾人物都在特別的一份「白名單」之內。"
"這些「貴賓」在社群上發布的內容可以躲過一般的審查系統,即使發布明顯的不當內容,也不會立即被刪除。《衛報》報導,Facebook的獨立監督委員會表示,在閱讀該篇報導後,決定要審查XCheck系統,並要求Facebook對其進行報告與解釋。"
🌻我喜歡的Apple TV影集, "Ted Lasso", 是這次艾美獎的大贏家, 很多主要演員都得獎了.
很高興這兩年, 因為有這部戲的陪伴, 讓我撐過了疫情, 家人離世, 以及一些烏煙瘴氣的事情.
前幾天看演員的得獎影片, 一位娛樂記者問得獎的男配角(也是編劇之一)說, 你覺得這部片的核心思想是甚麼. 他說, be curious, not judgemental.
就像得獎的女演員在劇中一開始是很鴨霸很壞心的球隊主人, 但這樣做是因為被前夫傷透了心, 所以想要弄垮離婚後分到的財產(也是前夫的最愛--球隊); 外表看起來永遠陽光燦爛做啦啦隊的男主角, 在青少年時父親自殺, 造成了他心裡永遠的痛&障礙(讓他在球賽時, 會有突發恐懼症).
我們每個人其實都有很多面, 很多個故事. 尤其在社群, 大家都是萍水相逢, 對彼此的了解都是非常片面的; 而有時候在社群裡, 看到有人會因為只看到一個面向, 就去下斷語. 這其實是人之常情很難避免, 所以我們需要常用第二層思考去提醒自己. 社群裡需要更多的同理心.
“Be curious, not judgmental” – Walt Whitman(惠特曼)(美國詩人)
Picture來源:
https://www.apple.com/newsroom/2021/09/apples-global-hit-comedy-series-ted-lasso-sweeps-the-2021-primetime-emmy-awards-scoring-history-making-win-for-outstanding-comedy-series/
fiscal 在 本土研究社 Liber Research Community Facebook 的最佳解答
【友情推介-檔案學深造文憑 (Postgraduate Diploma in Archival Studies)】
#非業配
#真心推介
本研社過去以歷史檔案作為研究方法之一,深明檔案保存對於一個機構的經驗傳承/機構記憶(institutional memory)無比重要,亦對後世的學術及民間研究助益不少。
舉例說,本研社亦有經常運用政府解密檔案中的史料,交叉比對其他材料,為各項研究打下更紮實的基礎。而檔案學(Archival Studies)對於鑑定、保存、管理及開放這些史料發揮重要角色。
誠意推介予對檔案保存、歷史文獻管理有興趣的朋友,報讀前檔案處處長朱福強的課程,一齊留住記憶!
補充資料:2021年11月30日截止報名,2022年1月開課,課程為期12個月。
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The programme aims to train students to become professional archivists by providing them with a broad and enriched learning experience covering a full spectrum of principles and methodology in managing records and archives throughout their life-cycle and in setting up and managing an archival institution.
The programme will guide students to plan, establish and manage archives in their organization to meet business, legal, fiscal, public relations and cultural needs.
On completion of the programme, students should be able to
-Apply the techniques to set up an archive and manage records in an office setting
-Analyse the issues, methods and problems in managing office documents and business records
-Synthesise the major concepts of archives especially in areas of acquisition, description and dissemination
-Evaluate the impact of globalization on records and archives management
-Identify the major records-related laws and apply the knowledge to review legal issues relating to archival operation
-Apply the theories and practices in performing archival functions
-Apply conceptual models in preserving digital archives
詳細資料:
https://hkuspace.hku.hk/prog/postgrad-dip-in-archival-studies
fiscal 在 貓的成長美股異想世界 Facebook 的精選貼文
🌻Docusign(DOCU), Crowdstrike(CRWD)財報結果
上週這兩家公司發表財報了.
這兩天看了一下他們的財報結果. Again, 兩家的表現都很好, 但發現分析師給DOCU的調價(往上)幅度比較多, 就好奇研究了一下SaaS公司是怎麼被估值的. 有興趣的話可以看看(從中學習到很多. 非常推薦一讀):
https://makingsenseofusastocks.blogspot.com/2021/09/blog-post.html
(By the way, 分析師對CRWD的價格調幅沒那麼大, 主因是成長趨緩了. 而DOCU的free cash flow佔營收比, 以及顧客黏著力在這季創了新高, 是讓分析師按讚的幾個原因).
關於CRWD: "The Street is already modeling revenue growth deceleration in 2022 to 36%, down from 60% expected in 2021, which on its own might prove a hurdle for a stock already trading at a high multiple," said Bank of America analyst Tal Liani in a report.
分析師對於DOCU的評價:
• 11位buy; 給的價格分別是: $310, $320 (x2), $330 (x2), $340 (x2), $345, $350, $350, $389
• 給Buy的分析師的評語:
o Baird: The analyst continues to view them as a best in class way to play digital transformation trends with strong growth, cash flow and profitability, and a strong competitive position. Power said DocuSign remains one of his top long-term compounding growth ideas.
o Citi: While slightly shy of the double-digit billings beat in recent quarters, DocuSign still delivered a solid 8% beat to Q2 billings, which grew 47% year-over-year, Radke tells investors in a research note.
o Evercore ISI: he calls "another strong quarter." While some may have wanted to see more aggressive Q3 billings guidance, he believes estimates "continue to leave room for upside," Materne said.
o JMP Securities: While revenue growth decelerated to 50% from 58% in Q1, the company is the clear leader in electronic signature and the broader system of agreement having crossed over 1M customers with a $2B run rate this quarter, the analyst tells investors in a research note, adding that he sees lots of room for growth as DocuSign targets a $50B total addressable market.
o Needham: The analyst commented, "Docusign reported another strong quarter in 2QF22 with typical DOCU upside to revenue and profitability. Sales metrics and growth decelerated Q/Q, as we expected against a massive pandemic quarter, but at a much slower rate than we believe much of the Street was anticipating. 65k net new customers was lower than the 70k - 90 range of CY20 but was still more than 2x greater than any pre-pandemic quarter, highlighting a strong end-market driving 47% billings growth against a strong comp. Commentary on incremental Agreement Cloud demand was positive, suggesting an additional growth tailwind combined with solid international can further aid 2HF22. Although DOCU shares could be lower near-term due to weak 2H OpMg guidance, we think this guidance is conservative, as the recent OM was greater than the pre-pandemic level even with tough comps."
o RBC Capital: The quarter highlighted the sustainability of the company's tailwinds post-pandemic as most of its underlying metrics such as billings and net revenue retention were solid, the analyst tells investors in a research note, adding that the traction with CLM and Notary was also "impressive".
分析師對於CRWD的評價:
• 12位buy; 給的價格分別是: $300, $310 (x2), $313, $315 (x2) , $305, $320, $325, $330 (x2), $340
• 1位給hold: $280 (from $220 by J.P. Morgan(same))
• 給Buy的分析師的評語:
o Baird: The analyst believes the company has significant room for growth with core modules, opportunities with Humio and in cloud workload security, among others, should help drive a continuation of strong growth over a long time horizon.
o BTIG: The company's "strong" Q2 results "cleared every hurdle", even though the buy-side benchmarks may have been slightly higher, the analyst tells investors in a research note. Powell adds that Crowdstrike is clearly gaining share in its core endpoint security target market at a rapid pace and gaining traction with new products across multiple categories.
o Canaccord: The analyst said the stock is down from its recent highs, and he thinks the re-rating creates a more favorable entry point for longer-oriented investors for a foundational security name. He views Crowdstrike as a long-term secular winner in security due to its native cloud platform advantage versus closely held peers in endpoint security combined with platform expansion into tangential segments to capture greater share of security budgets.
o Goldman Sachs: CrowdStrike last night delivered "another beat and raise quarter as the company benefited from another quarter of elevated demand," Essex said. But it traded lower following net new annual recurring revenue growth guidance that was slightly less than investors had hoped for. Essex, nonetheless, said the quarter demonstrated CrowdStrike's "ability to continue to go down market efficiently."
o JMP Securities: The analyst notes the company's Q2 annualized recurring revenue of $1.34B topping his estimate of $1.30B, with "sustained" 70% ARR and revenue growth along with margin upside seen as key highlights for the quarter. Suppiger adds that the metrics reflect Crowdstrike's "strong execution and robust demand environment".
o Mizuho: "very good" fiscal Q2 results. The annual recurring revenue growth of 70% year-over-year "was strong and still nicely surpassed" the Street's 65%-66% estimate, Moskowitz tells investors in a research note. He believes "strong execution can propel" Crowdstrike's stock higher.
o Piper Sandler: The company's metrics "outperformed across the board" in Q2 with 70% annual recurring revenue and revenue growth and record net new customer adds in the quarter, Owens tells investors in a research note.
o RBC Capital: Hedberg adds that CrowdStrike's record pipeline entering Q3 should continue to fuel the company's "land-and-expand" momentum.
o Stifel: Q2 results that he said "exceeded consensus estimates across all major financial metrics." He continues to believe that Crowdstrike's growth opportunity "remains in the early days" despite the company's scale given continued share capture within its core endpoint security market and incremental module adoption on the Falcon Platform, Reback tells investors.
o UBS: the company reported "pretty good" Q2 results against high expectations.
🌻趨勢: 跨境電商 Cross-border commerce
Morgan Stanley:
From our perspective, we think many are underestimating what the cross-border eCommerce demand could ultimately be, once key friction points like FX rates, tax and duties, shipping, language, etc are smoothed—all issues that Global-E directly addresses.
Cross-border ecommerce brings new, high-yield volume: We think elevated levels of cross-border ecommerce (ex-travel) is a structural shift thathas yet to be fully contemplated in MA (and V)'s long-term forecasts. MA's cross-border CNP ex-travel volume was 69% above 2019's level in 2Q and 63% higher in 1Q. Strength reflects both broader ecommerce adoption plus globalization of commerce, as marketplaces and services that reduce cross-border friction (such as those from GLBE) make international online ordering more readily adopted. Early data at V suggests greater cross-border ecommerce spend is persisting even in areas with pre-pandemic levels of international travel. Cross-border transactions also come at a higher yield, making us more optimistic that the trend can bring incremental long-term growth to the networks.
產業的潮流是有連貫性的. 疫情讓電商更發達後, 接下來應該就是加速電商跨境了. 跨境的話, 有很多問題需要解決(稅率, 語言, etc.) 這就需要有公司來做整合的動作. 這種跨境, 也可以想像是omnichannel的一種呈現.
Harley Finkelstein (President of Shopify): "I mean I think commerce in 2021 is cross-border."
🌻SPAC熱潮退卻,初創市值蒸發750億美元
"SPAC熱潮已經退卻。分析顯示,在2月中旬以前完成合併的137家SPAC的總市值已經蒸發25%,市值回落幅度上個月一度超過1,000億美元。"
"像貝萊德(BlackRock Inc., BLK)和富達投資(Fidelity Investments Inc.)這類企業管理的基金,以及許多對沖基金、養老金管理公司和其他一些投資者,都在SPAC的回落中遭受了衝擊,他們在去年年底開始的熱潮中競相投資SPAC。其中許多基金由於在價格還很低的時候就早早入場,所以現在仍坐擁可觀收益。事實上,SPAC市值仍有約2,500億美元,高於一年前的約1,000億美元,反映出這期間股價上漲和新公司上市的影響。
但即便如此,今年年初令人炫目的回報還是讓許多後來者做了接盤俠,扎堆投資所謂穩賺不賠的領域,其永恆的風險可見一斑。在過去的幾個月裡,一些投資者眼睜睜看著帳面財富縮水。"
"股價下跌會在SPAC領域形成惡性循環,因為投資者有權在併購交易前從空白支票公司撤資。一旦SPAC跌破發行價,投資者就更有可能這樣做,而許多SPAC的股價現在正處於這樣的水平。目前,在尚未宣布併購交易的空白支票公司中,超過95%的公司股價低於發行價。
投資者的大規模撤資會讓已經上市的空白支票公司手上的現金大幅減少,讓其更難實現業務目標,並可能加劇股價跌勢。"
https://on.wsj.com/3n6JznC
🌻BNPL (buy now pay later)
But most BNPL providers including Affirm, Klarna and Afterpay have been losing money despite breakneck revenue growth as they invest heavily in marketing to win share. Sweden-based Klarna’s credit losses more than doubled in the second quarter. Affirm has projected adjusted operating losses of $50m-$55m for the fiscal year that ended June 30.
The path to profitability for many of these companies was to achieve massive scale, analysts said.
https://www.ft.com/content/ca201a37-a16d-4223-b123-04d38350a972
Pictures: 一葉知秋; from EarningsWhispers