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On February 11th, Citigroup issued a research report stating that China Literature Limited (00772.HK) issued a profit warning, projecting non-IFRS adjusted net profit for last year to be between RMB 800 million and 900 million, lower than Citigroups and market expectations. The bank estimates that New Classics Media may record a loss in fiscal year 2025, mainly due to delays in content production leading to limited drama series releases, a significant difference from Citigroups previous forecast of releasing six drama series in the second half of the year and recording RMB 243 million in profit. Profit from non-New Classics Media businesses may be RMB 1 billion, lower than Citigroups pre-earnings forecast of RMB 1.08 billion. Therefore, Citigroup believes that the lower-than-expected profit for China Literature in 2025 is mainly due to the limited content releases from New Classics Media, while non-New Classics Media businesses will only slightly underperform expectations. Given that the market is already aware of the content production delays, Citigroup believes that the disappointing performance of New Classics Medias business should not be surprising. Citigroup expects the market to lower its profit forecast for China Literature in response to the profit warning, and the share price is expected to decline. Citigroup maintains a buy rating on China Literature with a target price of HKD 38.On February 11th, Citigroup released a research report predicting that Pop Marts (09992.HK) IP-centric diversification strategy will enhance its ability to withstand IP cyclical risks and revitalize new demand. Citigroups weekly data tracking shows a recent upward trend in app downloads, particularly in China and the US, which Citigroup attributes primarily to the launch of its new Skullpanda x My Little Pony series. Looking ahead to 2026, Citigroup predicts that the groups breakthroughs in IP diversification, product innovation, and monetization capabilities across a wide range of sectors will drive growth. The report mentions that the groups other iconic IP products, such as SKULLPANDA and CRYBABY, are becoming new growth drivers and have their own fan bases, proving they are not simply substitutes for LABUBU. The report predicts that non-LABUBU IPs have upside potential this year, and recent global consumer surveys also suggest that interest in non-LABUBU IPs in overseas markets may be underestimated. Citigroup has given Pop Mart a "Buy" rating with a target price of HK$415, based on a P/E ratio of 28x for 2026 earnings. The group commands a premium compared to most global toy and IP peers, likely due to its rapid growth driven by overseas expansion. Citigroup also believes Pop Mart deserves a premium over its domestic competitors due to its leading position.OpenAI founder Altman: Today we updated GPT-5.2 (Instant Model) in ChatGPT. While the changes are minor, we hope you find them to be an improvement.February 11th, Futures News: Economies.com analysts latest view: In recent intraday trading, spot gold prices have continued to fluctuate within a narrow range, holding steady above the psychological level of $5,000, attempting a technical correction in preparation for accumulating bullish momentum, driving prices higher, and resuming the upward trend.February 11th, Futures News: Economies.com analysts latest view: WTI crude oil futures prices further consolidated their gains in the previous trading session, benefiting from their continued trading above the EMA50 moving average. This moving average continues to provide dynamic support, further strengthening the stability and dominance of the main bullish trend in the short term, especially as prices move along the support trendline of this trend.

Increases in Dow Futures and Inflation Concerns

Charlie Brooks

Jul 15, 2022 10:28

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Futures for U.S. equities were trading higher on Thursday evening, as key benchmark averages ended the regular session in a mixed way amid stronger-than-expected producer price data and disappointing profit reports from major banking institutions.


Dow Jones Futures increased 0.2 percent by 7:00 p.m. ET (11:00 p.m. GMT), while S&P 500 Futures and Nasdaq 100 Futures both rose 0.3 percent.


In extended trading, Pinterest Inc (NYSE:PINS) shares surged 15.8 percent following a Wall Street Journal article revealed Elliott Management's 9 percent stake.


Prior to the end of the day, investors will focus on June's retail sales, import and export prices, the June industrial production report, and preliminary July consumer sentiment data. Wells Fargo & Company (NYSE:WFC) and Citigroup Inc (NYSE:C) are expected to deliver their quarterly earnings results in the interim.


During Thursday's usual trading day, the Dow Jones Industrial Average fell 142.6 points, or 0.5 percent, to 30,630.2, the S&P 500 fell 11.4 points, or 0.3 percent, to 3,790.4, and the NASDAQ Composite increased just 3.6 points to 11,112.1.


Morgan Stanley (NYSE:MS) declined 0.4% after reporting Q2 EPS of $1.44 vs $1.57 forecasted and sales of $13.13 billion versus $13.39 forecasted.


JPMorgan Chase & Co (NYSE:JPM) fell 3.5 percent after announcing Q2 earnings per share of $2.76 compared to $2.94 forecasted and revenue of $30.72 billion compared to $31.84 forecasted.


In terms of data, producer prices increased by 11,3 percent year-over-year in June as energy prices jumped, adding to concerns of rapid rate hikes after the CPI result surpassed expectations in the previous session.


On the bond markets, the 10-Year United States interest rate was 2.958%.


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